Drewry’s World Container Index decreased by 5% to $3,493 per 40ft container this week.
Our detailed assessment for Thursday, 29 February 2024
- The composite index decreased by 5% to $3,493 per 40ft container this week and has increased by 88% when compared with the same week last year.
- The latest Drewry WCI composite index of $3,493 per 40ft container is 146% more than average 2019 (pre-pandemic) rates of $1,420.
- The average composite index for the year-to-date is $3,553 per 40ft container, which is $859 higher than the 10-year average rate of $2,694 (which was inflated by the exceptional 2020-22 Covid period).
- Freight rates on Shanghai to Los Angeles which declined 4% or $197 to $4,486 per 40ft container
- Similarly, rates from Shanghai to New York dropped 3% or $156 to $5,820 respectively.
- Conversely, rates on Los Angeles to Shanghai and New York to Rotterdam increased 2% or $11 and $10 to $719 and $633 per 40ft box.
- Drewry expects slight decreases in spot rates from China over the next few weeks.