Drewry’s composite World Container Index decreased by 8% to $3,688.75 per 40ft container this week.
Our detailed assessment for Thursday, 06 October 2022
The composite index decreased by 8% this week, the 32nd consecutive weekly decrease, and has dropped by 64% when compared with the same week last year.
The latest Drewry WCI composite index of $3,689 per 40-foot container is now 64% below the peak of $10,377 reached in September 2021. It is 1% lower than the 5-year average of $3,723, indicating a return to more normal prices, but remains 160% higher than average 2019 (pre-pandemic) rates of $1,420.
The average composite index for the year-to-date is $7,500 per 40ft container, which is $3,777 higher than the five-year average ($3,723 mentioned above).
The composite index decreased by 8% to $3,688.75 per 40ft container, and is 64% lower than the same week in 2021. Freight rates on Shanghai – Rotterdam dropped 13% or $717 to $4,724 per feu. Spot rates on Shanghai – Los Angeles fell 9% or $288 to $2,995 per 40ft box. Likewise, Rates on Shanghai – Genoa and Shanghai – New York dipped 6% and 5% to $4,912 and $6,887 per 40ft container, respectively. Rates on Rotterdam – Shanghai and Los Angeles – Shanghai slid 4% each to $967 and $1,226 per feu, respectively. However, rates from Rotterdam – New York gained 3% or $214 to $7,252 per 40ft box. Rates on New York – Rotterdam grew 4% to $1,305 per 40ft container. Drewry expects the index to decrease in the next few weeks.
Source: Hellenic Shipping News
