Drewry: World Container Index Up By 1.6% Last Week
The composite index increased 1.6% this week and 109.5% up when compared with same period of 2019.
The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,823 per 40ft container, which is $388 higher than the five-year average of $1,436 per 40ft container.
Drewry’s composite World Container index increased by 1.6% to $2,644.26 per 40ft container and reached an 8-year high. Transpacific Eastbound container freight rates are surging to new 2020 highs driven by high demand and equipment shortages in Asian ports. Spot rates from Shanghai to Los Angeles surged 4% to $4,085 which is the highest they’ve been since at least 2010. While, Spot rates from Shanghai to New York gushed 3% to $4,879 which is the highest they’ve been since March 2015. Meanwhile, Shanghai to Genoa rates declined 4% to reach $2,689 per feu. However, Transatlantic rates show a strike contrast to transpacific rates in the present COVID 19 situation and are at the same level. Drewry expects rates to remain stable in the coming week.