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Drewry’s Container Index up 8% in October

[ January 3, 2025   //   ]

Drewry, the maritime research and consultancy, said its World Container Index increased 3 percent to USUS$3,905 per 40-foot equivalent unit, or FEU, the week of Jan. 2.
The latest Drewry WCI composite index is 62 percent below the previous pandemic peak of USUS$10,377 in September 2021, but it is 175 percent more than the average 2019 (pre-pandemic) rate of USUS$1,420.
The average composite index for the year-to-date is USUS$3,905 per FEU, which is USUS$1,040 higher than the 10-year average rate of USUS$2,865 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Los Angeles increased 7 percent or US$371 to US$4,829 per FEU and those from Shanghai to New York increased 6 percent or US$875 to US$6,445 per FEU. Meanwhile, rates from New York to Rotterdam increased 2 percent to US$838 per FEU, while rates from Los Angeles to Shanghai and Rotterdam to New York remained stable at US$728 and US$2,720, respectively.
Drewry expects rates on the transpacific trade to rise in the coming week, driven by front-loading ahead of the looming International Longshoremen’s Association port strike, Jan. 15, 2025 and the anticipated tariff hikes under the incoming Trump Administration.
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.

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