Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 02 May 2024

• The composite index increased 1% to $2,725 per 40ft container this week and has increased by 55% when compared with the same week last year.
• The latest Drewry WCI composite index of $2,725 per 40ft container is 92% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,230 per 40ft container, which is $519 higher than the 10-year average rate of $2,712 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Genoa increased 3% or $102 to $3,717 per 40ft container. Similarly, rates from Shanghai to Rotterdam rose 2% or $47 to $3,103 per feu. Conversely, rates from Rotterdam to Shanghai and Shanghai to Los Angeles decreased 1% to $739 and $3,371 per 40ft box respectively. While rates from Los Angeles to Shanghai, Shanghai to New York, New York to Rotterdam and Rotterdam to New York remain stable. Drewry expects freight rates from China to remain stable in the upcoming week.