The Drewry World Container Index (WCI) dropped 4% to $2,264 per 40ft container, marking a 78% decline from the pandemic peak of $10,377 in September 2021 and reaching its lowest point since January 2024. However, this current level remains 59% higher than the pre-pandemic average of $1,420 in 2019.
The average year-to-date (YTD) composite index stands at $3,127 per 40ft container, $242 above the 10-year average of $2,885, though this figure is skewed by the extraordinary rates during the 2020-2022 Covid period.
Freight rates from Shanghai to Los Angeles have decreased by 9%, or $248, now at $2,658 per 40ft container. Similarly, rates from Shanghai to New York have dropped by 7%, or $264, settling at $3,774 per 40ft container.
Rates from Shanghai to Rotterdam and from Rotterdam to New York have both fallen by 2%, now at $2,463 and $2,316 per 40ft container, respectively. Other routes, including Shanghai to Genoa, New York to Rotterdam, and Rotterdam to Shanghai, saw a smaller 1% reduction, with current rates of $3,286, $846, and $484 per 40ft container, respectively. Notably, rates from Los Angeles to Shanghai remained unchanged.
Drewry forecasts a slight further decrease in freight rates in the coming weeks.
For many years, the World Container Index has been the go-to, independent, global reference for index-linked contracts.
