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Drewry: World Container Index Stable This Week

Drewry’s composite World Container Index remained stable at $1,681.04 per 40ft container this week.

Source: Drewry World Container Index, Drewry Supply Chain Advisors

Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 08 June 2023

  • The composite index remained stable (decreased a marginal 0.1%) this week, and has dropped by 78% when compared with the same week last year.
  • The latest Drewry WCI composite index of $1,681 per 40-foot container is now 84% below the peak of $10,377 reached in September 2021. It is 37% lower than the 10-year average of $2,688, indicating a return to more normal prices, but remains 18% higher than average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $1,851 per 40ft container, which is $837 lower than the 10-year average ($2,688 mentioned above).
  • The composite index remained stable at $1,681.04 per 40ft container, and is 78% lower than the same week in 2022. Freight rates on Rotterdam – New York fell by 9% or $339 to $3,375 per feu. Rates on Shanghai – Rotterdam dropped 6% or $91 to $1,452 per 40ft box. Similarly, rates on Shanghai – Genoa and New York – Rotterdam declined 2% each to $2,130 and $794 per 40ft container, respectively. Rates on Rotterdam – Shanghai slid by 1% to $574 per feu. However, rates on transpacific lanes, Shanghai – Los Angeles and Shanghai – New York increased by 6% and 5% to $1,896 and $2,975 per 40ft box, respectively. Rates on Los Angeles – Shanghai hovered around the previous week’s level. Drewry expects East-West spot rates to rise again on most routes in the next few weeks.
    Source: Drewry

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