Business, Freight News, Sea

Drewry’s Container Index up 4% in October

[ November 7, 2024   //   Gary G Burrows ]

Drewry, the maritime research and consultancy, said its World Container Index increased 4 percent to US$3,444 per 40-foot container the week of Nov. 7.
The latest Drewry WCI composite index is 67 percent below the previous pandemic peak of US$10,377 in September 2021, but it is 142 percent more than the average 2019 (pre-pandemic) rate of US$1,420.
The average composite index for the year-to-date is US$4,005 per FEU, which is US$1,162 higher than the 10-year average rate of US$2,843 (inflated by the exceptional 2020-22 Covid period).
Freight rates from New York to Rotterdam increased 3 percent or US$25 to US$785 per FEU. On the other hand, rates from Rotterdam to New York fell 2 percent or US$40 to US$2,624 per FEU and those from Shanghai to Los Angeles dipped 1 percent or US$33 to US$4,806 per FEU. Meanwhile, rates from Los Angeles to Shanghai and Shanghai to New York remained stable. Spot rates on the Asia-Europe trade lane increased for the second consecutive week and Drewry expects this uptrend to continue next week as well.
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