Drewry’s composite World Container index remained steady at $10,377.19 per 40ft container.
Our detailed assessment for Thursday, 23 September 2021
1. The composite index remained stable this week, but, remains 299% higher than a year ago.
2. The average composite index of the WCI, assessed by Drewry for year-to-date, is $6,888 per 40ft container, which is $4,492 higher than the five-year average of $2,396 per 40ft container.
3. After 22 consecutive weeks of increases, Drewry’s World Container index composite index stopped rising this week. The WCI index remained steady at $10,377.19 per 40ft container, but is 299% higher than the same week in 2020. This comes following the announcement by CMA-CGM and Hapag-Lloyd to put a halt in increment of spot rates as container prices on most trade lanes are at record highs. Freight rates on Shanghai to Genoa gained 1% or $144 to reach $13,646 per 40ft box. However, spot rates from New York to Rotterdam dropped 8% or $91 to $1,107 per feu. Similarly, rates on Los Angeles to Shanghai and Shanghai to New York fell 3% and 2% to reach $1,404 and $15,849 per 40ft box respectively. Rates on Shanghai to Rotterdam, Rotterdam to Shanghai, Shanghai to Los Angeles and Rotterdam to New York remained stable at previous weeks level. Drewry expects rates to remain steady in the coming week.
Spot freight rates by major route
Our assessment across eight major East-West trades:
Source: Drewry