World Container Index Update

World Container Index Update

The Drewry World Container Index (WCI) saw a decrease by 5.2% to US$1479.48 per 40-foot container throughout September, dropping by 66.9% when compared to the same period last year and sitting 86% below the peak of US$10,377 reached in September 2021.

The WCI is 45% lower than the 10-year average of US$2679, indicating a return to more normal prices, but remains 4% higher than average 2019 (pre-pandemic) rates of US$1420.

The average composite index for the year-to-date is US$1756 per 40-foot container, which is US$923 lower than the 10-year average.

The following trade routes all experienced a decrease in freight rates: Shanghai-Genoa and Shanghai, Shanghai-New York and Shanghai-Los Angeles. Meanwhile, rates for New York – Rotterdam increased whilst spot rates for Rotterdam -Shanghai remained stable.

It is anticipated that the majority of spot rates will remain close to current levels over the coming weeks.

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