DREWRY’S World Container Index decreased slightly this week and appears to be stabilising after a long tumble.
The supply chain advisory firm said the index remained stable on 13 April at US$1709 per 40-foot container – it decreased a merge 0.1%.
The composite index has dropped by 78% when compared with the same week last year.
It is now 84% below the peak of US$10,377 reached in September 2021.
Drewry said the WCI is 36% lower than the 10-year average of US$2688, indicating a return to more normal prices, but it remains 20% higher than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year-to-date is US$1908 per 40-foot container, which is US$780 lower than the 10-year average.
Freight rates on Rotterdam – Shanghai fell 5% to US$642 per FEU.
Rates on Shanghai – Los Angeles and New York – Rotterdam slid by 4% each to settle at US$1674 and US$1025 per 40-foot box, respectively.
However, rates on Shanghai – Rotterdam increased by 4% to US$1598 per 40-foot container.
Similarly, Shanghai – New York inched up 2% to US$2552 per FEU.
Continuing the trend, rates on Shanghai – Genoa, Los Angeles – Shanghai and Rotterdam – New York hovered around the previous week’s level.
Drewry expects east-west spot rates on routes other than the transatlantic to plateau in the next few weeks.
