Drewry’s composite World Container Index decreased by 5% to $5,661.69 per 40ft container this week.
Source: World Container Index, Drewry Supply Chain Advisors
Our detailed assessment for Thursday, 01 September 2022
The composite index decreased by 5% this week, the 27th consecutive weekly decrease, and has dropped by 43% when compared with the same week last year.
The latest Drewry WCI composite index of $5,662 per 40-foot container is now 45% below the peak of $10,377 reached in September 2021, but it remains 55% higher than the 5-year average of $3,664.
The average composite index for the year-to-date is $7,928 per 40ft container, which is $4,265 higher than the five-year average ($3,664 mentioned above).
The composite index decreased by 5% to $5,661.69 per 40ft container, and is 43% lower than the same week in 2021. Freight rates on Shanghai – Los Angeles dropped 9% or $565 to $5,562 per feu. Spot rates on Shanghai – Rotterdam and Shanghai – Genoa fell 5% each to $7,583 and $7,971 per 40ft container respectively. Rates on Shanghai – New York decreased 3% or $265 to $9,304 per 40ft box. Similarly, rates on Rotterdam – New York dipped 1% to $6,839 per feu. However, rates on Los Angeles – Shanghai gained 1% to $1,262 per 40ft box. Rates on Rotterdam – Shanghai and New York – Rotterdam hovered around the previous week’s level. Drewry expects the index to decrease in the next few weeks.
