Drewry: World Container Index Still Moving Higher, Now 349% Year-on-Year

Drewry’s composite World Container index increased 1% or $103 to $8,985.83 per 40ft container.

Our detailed assessment for Thursday, 22 July 2021

• The composite index increased 1% or $103 this week, and also, remains 349% higher than a year ago.

• The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,979 per 40ft container, which is $3,877 higher than the five-year average of $2,073 per 40ft container.

• Drewry’s composite World Container index increased marginally by 1% or $103 to reach $8,985.83 per 40ft container, which is 349% higher than the same week in 2020. Freight rates from New York to Rotterdam grew 6% or $73 to $1,258 per 40ft container. Spot rates on Shanghai to Los Angeles increased 2% or $220 and reached $9,953 for a 40ft box. Similarly, rates on Los Angeles – Shanghai soared 2% to $1,394 per feu. Likewise, spot rates on Shanghai to Rotterdam and Shanghai to Genoa increased 1% or $112 and $88 to stand at $13,066 and $12,773 per 40ft container respectively. However, freight rates on Rotterdam to Shanghai, Shanghai to New York and New York to Rotterdam remain stable at previous weeks level. Drewry expects rates to increase further in the coming weeks but at a slower pace.

Spot freight rates by major route

Our assessment across eight major East-West trades:

Source: Drewry