Drewry’s composite World Container Index decreased by 10% to $4,471.99 per 40ft container this week.
Our detailed assessment for Thursday, 22 September 2022
• The composite index decreased by 10% this week, the 30th consecutive weekly decrease, and has dropped by 57% when compared with the same week last year.
• The latest Drewry WCI composite index of $4,472 per 40-foot container is now 57% below the peak of $10,377 reached in September 2021, but it remains 21% higher than the 5-year average of $3,704.
• The average composite index for the year-to-date is $7,692 per 40ft container, which is $3,988 higher than the five-year average ($3,704 mentioned above).
• The composite index decreased by 10% to $4,471.99 per 40ft container, and is 57% lower than the same week in 2021. Freight rates on Shanghai – Genoa dropped 13% or $934 to $6,419 per feu. Spot rates on Shanghai – Los Angeles fell 11% or $473 to $3,779 per 40ft box. Likewise, Rates on Shanghai – Rotterdam and Shanghai – New York dipped 10% and 9% to $ 6,027 and $7,701 per 40ft container respectively. Rates from Rotterdam – Shanghai decreased 5% to $1,006 per 40ft box. Rates on New York – Rotterdam fell 2% or $27 to $1,255 per feu. However, rates on Los Angeles – Shanghai and Rotterdam – New York gained 2% each to $1,282 and $6,737 per 40ft container respectively. Drewry expects the index to decrease in the next few weeks.
