Drewry’s Composite World Container Index down 2% in week 17

Source: Drewry World Container Index

Drewry’s Composite World Container Index has been down 2% in week 17 and has dropped by 78% from the same week last year.

The latest Drewry WCI Composite Index of $1,740/40’ft container is currently 83% below the peak of $10,377 reached in September 2021. The rate is 35% below the 10-year average of $2,688, showing a trend back to normal prices, but still 23% above the 2019 (pre-pandemic) average of $1,420.

The Drewry WCI Composite Index year-to-date averages $1,890/40ft container, $797 below the 10-year average ($2,688 mentioned above).

Freight rates for the route Rotterdam – Shanghai and New York – Rotterdam fell 4% to $596 and $926/feu, respectively.

Rates on the Shanghai – Genoa route decreased by 3%, or $75, to $2,193 per 40ft container.

Rates on the Shanghai – Los Angeles and Shanghai – New York routes fell 2% to $1,820 and $2,780/40ft container, respectively.

Prices on the Rotterdam – New York route dropped 2% to $4,806/feu.

Rates for Shanghai – Rotterdam route decreased slightly by 1% to $1,592/40ft container.

Rates for the Los Angeles – Shanghai route increased slightly by 1% to $1,017/feu