05 Jun World Container Index Update
Posted at 02:44h
in Freight Forwarders, Global Trade, Logistics, Ports, Shipping Containers, World Container Index
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The latest update of Drewry’s composite World Container Index (WCI) has seen a fall of 20% to US$1685.32 per 40-foot container this week, representing a drop of 78% when compared with the same week in 2022.
The WCI is now 84% below the peak of US$10,377, which was reached in September 2021, and 37% lower than the 10-year average of US$2688. Whilst this indicates a return to more normal pricing it still remains 19% higher than the average 2019 (pre-pandemic) rates of US$1420.
From a global perspective, the average composite index fell across routes from Rotterdam-New York to Shanghai-New York through to Shanghai-Los Angeles and more. The only route that saw a converse movement in rates was New York-Rotterdam, which inched up 1% to US$844 per FEU. Overall, Drewry predicts east-west spot rates on routes other than the transatlantic to stabilise in the next few weeks.
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