Drewry’s composite World Container Index decreased by 0.9% to $6,761.63 per 40ft container this week.

Our detailed assessment for Thursday, 28 July 2022

• The composite index decreased by 0.9% this week, the 22nd consecutive weekly decrease, and has dropped by 28% when compared with the same week last year.
• The latest Drewry WCI composite index of $6,762 per 40-foot container is now 35% below the peak of $10,377 reached in September 2021, but it remains 89% higher than the 5-year average of $3,574.
• The average composite index for the year-to-date is $8,219 per 40ft container, which is $4,645 higher than the five-year average ($3,574 mentioned above).
• The composite index decreased by 0.9% to $6,761.63 per 40ft container, and is 28% lower than the same week in 2021. Freight rates on Shanghai – Genoa dropped 4% or $371 to $9,929 per feu. Spot rates on Shanghai – Los Angeles fell 1% or $81 to $7,199 per 40ft box.
• Rates on Rotterdam – Shanghai decreased 1% to $1,197 per 40ft container. However, rates on Shanghai – Rotterdam gained 1% or $62 to $9,154 per 40ft box.
• Rates on Los Angeles – Shanghai, Shanghai – New York, Rotterdam – New York, and New York – Rotterdam hovered around the previous week’s level. Drewry expects the index to decrease in the next few weeks.

Spot freight rates by major route

Our assessment across eight major East-West trades