The Drewry World Container Index (WCI) composite index dropped 10% to $2,795 per 40ft container, marking its lowest level since May 2024. This figure represents a 73% decline from the pandemic peak of $10,377 in September 2021 but remains 97% higher than the pre-pandemic 2019 average of $1,420.
So far in 2024, the year-to-date (YTD) average stands at $3,465 per 40ft container, exceeding the 10-year average of $2,881—a figure still influenced by the exceptional 2020–2022 Covid-driven surge.
Key Freight Route Updates
- Shanghai to New York: Down 13% ($748) to $5,126 per 40ft container
- Shanghai to Los Angeles: Down 11% ($504) to $3,888 per 40ft container
- Shanghai to Rotterdam: Down 9% ($269) to $2,618 per 40ft container
- Shanghai to Genoa: Down 8% ($326) to $3,837 per 40ft container
- Rotterdam to New York: Down 3% ($69) to $2,394 per 40ft container
Meanwhile, rates remained stable on routes from Rotterdam to Shanghai, Los Angeles to Shanghai, and New York to Rotterdam.
Outlook
With increasing capacity, Drewry anticipates a slight decline in spot rates next week.
