Business, Freight News, Sea

Drewry’s Container Index Slips in October

[ October 18, 2024   //   Gary G Burrows ]

Drewry, the maritime research and consultancy, said its World Container Index decreased 4 percent to US$3,216 per 40-foot container the week of Oct. 17.
The latest Drewry WCI composite index is 69 percent below the previous pandemic peak of US$10,377 in September 2021, but it is 126 percent more than the average 2019 (pre-pandemic) rate of US$1,420.
The average composite index for the year-to-date is US$4,058 per FEU, which is US$1,225 higher than the 10-year average rate of US$2,834 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to New York fell 3 percent to US$5,609 per FEU and those from Shanghai to Los Angeles declined 2 percent to US$4,941 per 40-footer. Conversely, rates from Los Angeles to Shanghai, New York to Rotterdam and Rotterdam to New York remained stable. Drewry expects rates (ex-China) to continue with their marginal decline in the coming weeks.
Drewry provides spot market container freight rate information on other routes to those above at its Container Freight Rate Insight online service, which covers about 790 global port pairs.

Tags: Drewry