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Drewry’s World Container Index Dips 4%

[ October 11, 2024   //   ] 

Drewry, the independent maritime research consultancy, said its World Container Index decreased 4 percent to US$3,349 per 40-foot container the week of Oct. 10, 68 percent below the previous pandemic peak of US$10,377 in September 2021, but 136 percent more than he average pre-pandemic rate (2019) of US$1,420.
	The average composite index for the year-to-date is US$4,079 per 40-footer, which is US$1,248 higher than the 10-year average rate of US$2,831 (inflated by the exceptional 2020-22 Covid period).
	Freight rates from Shanghai to Los Angeles fell 5 percent to US$5,019 per 40-foot box. Rates from Shanghai to New York declined 3 percent to US$5,761 per FEU.
	Conversely, rates from New York to Rotterdam and Rotterdam to New York increased 1 percent to US$2,083 per FEU, respectively. Meanwhile, rates from Los Angeles to Shanghai remained stable.
	The ILA port strike ended after three days on Oct. 4. Following the tentative deal, Drewry expects rates ex-China to continue to decrease marginally in the coming weeks.

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