26 Jul World Container Index continues decline
The latest update of Drewry’s composite World Container Index (WCI) has seen a weekly decrease by 2.7% to reach $1494.46 per 40-foot container whilst the composite index has dropped by 78.9% when compared to the same week last year.
The index is now 86% below the peak of $10,377 reached in September 2021 and 44% lower than the 10-year average of $2688. According to Drewry this reflects a return to more normal prices, even though it remains 5% higher than average 2019 (pre-pandemic) rates of $1420.
Freight rates across Rotterdam-New York, Shanghai -Los Angeles, Shanghai -Rotterdam, Shanghai -Genoa and Shanghai-New York all declined less than 10% whilst rates on Rotterdam-Shanghai increased by 1% and New York-Rotterdam remained stable. Drewry anticipates that East-West spot rates will decline across most routes over the upcoming weeks.
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