Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 18 April 2024

• The composite index decreased by 3% to $2,719 per 40ft container this week and has increased by 53% when compared with the same week last year.
• The latest Drewry WCI composite index of $2,719 per 40ft container is 91% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,295 per 40ft container, which is $586 higher than the 10-year average rate of $2,709 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to New York decreased 5% or $257 to $4,453 per 40ft container. Similarly, rates from Shanghai to Los Angeles dropped 4% or $147 to $3,487 per 40ft box. Likewise, rates on Shanghai to Rotterdam and Shanghai to Genoa declined 2% to $2,989 and $3,577 per feu respectively. Conversely, rates from Rotterdam to New York increased by 3% or $67 to $2,291 per 40ft container. Also rates from Los Angeles to Shanghai increased 2% or $15 to $708 per feu. While rates from Rotterdam to Shanghai and New York to Rotterdam remained stable. Drewry expects a minor decrease in spot rates in the coming week.