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Drewry: World Container Index Up 7.8% On Week

The composite index increased 7.8% this week and 48.1% up when compared with same period of 2019.

The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,643 per 40ft container, which is $247 higher than the five-year average of $1,396 per 40ft container.

Drewry’s composite World Container index reached a new 5-year high by crossing last week’s index to $2,031.57 per 40ft container this week, up 7.8% from last week. Rates from Shanghai to Los Angeles surged 18% – an increase of $456 to touch $2,923 per feu. Similarly, freight rates from Shanghai to New York soared 10% – an increase of $334 to $3,530, which is 30% above the level of a year ago. Also, spot rates on Shanghai-Genoa climbed 5% – a change of $102 and reached $2,058 for a 40ft box. Likewise, New York-Rotterdam rates gained 6% and stood at $540 for a 40ft container. However, rates on Rotterdam to Shanghai and Rotterdam to New York slumped 5% and 3% to $1,168 and $2,369 per 40ft box respectively. Drewry expects no upward turn in rates next week.
Source: Drewry

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