07 Dec World Container Index Update
The Drewry World Container Index (WCI) has remained stable over the past few weeks, but has experienced a drop of 60% when compared to the same period last year and is now sitting 4% below the average 2019 (pre-pandemic) rates of US$1420 and at its lowest in three years.
The average composite index for the year-to-date is US$1720 per 40-foot container, which is US$957 lower than the 10-year average.
The following trade routes all experienced a decrease in freight rates: Shanghai-Genoa, Los Angeles-Shanghai (both directions). Conversely, rates increased across both directions for the following routes: New York – Rotterdam and Rotterdam – Shanghai. Meanwhile rates remain stable for Shanghai to New York.
It is anticipated that the majority of spot rates will remain close to current levels over the coming weeks.