Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 25 April 2024

• The composite index remains stable at $2,706 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 $2,706 per 40ft container is 90% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,260 per 40ft container, which is $550 higher than the 10-year average rate of $2,710 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Rotterdam to New York and Shanghai to Los Angeles decreased 3% to $2,214 and $3,395 per 40ft container respectively. Similarly, rates from Rotterdam to Shanghai and Shanghai to New York dropped 2% to $749 and $4,369 per 40ft box respectively. Likewise, rates on Los Angeles to Shanghai declined 1% or $8 to $700 per feu. Conversely, rates from Shanghai to Rotterdam increased 2% or $67 to $3,056 per 40ft container. Also rates from Shanghai to Genoa increased 1% or $38 to $3,615 per feu. While rates from New York to Rotterdam remain stable. Drewry expects freight rates ex-China to hold steady in the coming week.