World Container Index (WCI) 10 November 2022
Providing an interesting insight into world container index pricing – Courtesy of Drewry UK
Drewry’s composite World Container Index decreased by 9% to $2,773.49 per 40ft container this week
The composite index decreased by 9% this week, the 37th consecutive weekly decrease, and has dropped by 70% when compared with the same week last year
The average composite index for the year-to-date is $7,018 per 40ft container, which is $3,259 higher than the five-year average of $3,759
Freight rates on Shanghai – Rotterdam and Shanghai – Genoa dropped 15% each to $3,126 and $3,494 per feu respectively.
Spot rates on Shanghai – New York fell 6% or $343 to $5,351 per 40ft box. Similarly, rates on Shanghai – Los Angeles slid 4% to $2,262 per 40ft container.
Likewise, rates on Rotterdam – New York and Rotterdam – Shanghai fell 1% each to $7,336 and $867 per feu, respectively.
However, rates on Los Angeles – Shanghai gained 2% to $1,186 per 40ft box. Rates on New York – Rotterdam hovered around the previous week’s level.
Drewry expects smaller week-on-week reductions in rates in the next few week.