The Drewry World Container Index (WCI) published on 23 September remained steady at US$10,377.19 per FEU, the same level as the week before, however, a whopping 299% year-on-year rise.
“This comes following the announcement by CMA-CGM and Hapag-Lloyd to put a halt in increment of spot rates as container prices on most trade lanes are at record highs,” Drewry commented.
The rate from Shanghai to Los Angeles remained flat at US$12,424 per FEU, while a marginal increase in rates were witnessed at the Shanghai to Rotterdam route, which increased by US$62 to US$14,356 per FEU.
Drewry said that year-to-date the WCI was up US$6,888 per FEU.
Looking ahead, Drewry expects rates to remain steady in the coming week.
Detailed Assessment
- The composite index remained stable this week, but, remains 299% higher than a year ago.
- The average composite index of the WCI, assessed by Drewry for year-to-date, is US$6,888 per 40ft container, which is US$4,492 higher than the five-year average of US$2,396 per 40ft container.
After 22 consecutive weeks of increases, Drewry’s World Container index composite index stopped rising this week. The WCI index remained steady at $10,377.19 per 40ft container, but is 299% higher than the same week in 2020. This comes following the announcement by CMA-CGM and Hapag-Lloyd to put a halt in increment of spot rates as container prices on most trade lanes are at record highs. Freight rates on Shanghai to Genoa gained 1% or US$144 to reach US$13,646 per 40ft box. However, spot rates from New York to Rotterdam dropped 8% or $91 to US$1,107 per FEU. Similarly, rates on Los Angeles to Shanghai and Shanghai to New York fell 3% and 2% to reach US$1,404 and US$15,849 per 40ft box respectively. Rates on Shanghai to Rotterdam, Rotterdam to Shanghai, Shanghai to Los Angeles and Rotterdam to New York remained stable at previous week’s level. Drewry expects rates to remain steady in the coming week.
