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Supply Chain Advisors

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World Container Index - 14 Mar

Drewry’s World Container Index decreased by 4% to $3,162 per 40ft container this week.

 

 

Source: Drewry World Container Index, Drewry Supply Chain Advisors

 

Our detailed assessment for Thursday, 14 March 2024

  • The composite index decreased by 4% to $3,162 per 40ft container this week and has increased by 77% when compared with the same week last year.    
  • The latest Drewry WCI composite index of $3,162 per 40ft container is 123% more than average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $3,493 per 40ft container, which is $794 higher than the 10-year average rate of $2,699 (which was inflated by the exceptional 2020-22 Covid period).
  • Freight rates from Shanghai to Rotterdam and Shanghai to Genoa decreased 5% to $3,473 and $4,223 per 40ft box. Similarly, freight rates from Shanghai to Los Angeles dropped 4% or $190 to $4,082 per feu respectively. Followed by rates on Rotterdam to Shanghai which reduced 2% or $16 to $845 per 40ft container. Likewise, rates on Los Angeles to Shanghai and Shanghai to New York declined 1% to $707 and $5,411 per feu respectively. While rates on Rotterdam to New York increased 2% or $50 to $2,242 per 40ft container. Similarly, freight rates from New York to Rotterdam grew 3% or $20 to $644 per 40ft box. Drewry expects spot rates ex-China to continue declining in the coming weeks, whereas freight rates on transatlantic will remain stable.

Spot freight rates by major route

Our assessment across eight major East-West trades:

Ocean spot market freight rates against 790 global port pairs

If you need spot market container freight rate information on other routes to those above, find out more about our Container Freight Rate Insight (CFRI) online service, which covers over 790 global port pairs (updated monthly).

 

Container Freight Portal: Request a demonstration

World Container Index: Correlations and methodology

Find out more about the process we follow to establish our weekly index and correlations between tradelane indices and the main composite index.

 

Read more

 

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