Drewry’s World Container Index decreased 11 percent to $3,445 for a 40-foot container last week.

by

Drewry’s World Container Index (WCI) dropped by 11% to $3,445 for a 40ft container this week, indicating an impressive reduction. Even with this decrease however, it is still 67% less than the record high of $10,377 during the time of pandemic on September 20, 2021. But it is still 143% more than the average rate of $1420 in the year 2019, that was before the pandemic.

The year-to-date (YTD) Composite index is at $3,798 for a 40ft container. This is 924 more than the 10 year average of $2,874. This higher number reflects the extraordinary rates that were experienced in the 2020-2022 Covid timeframe.

Shipping rates between Shanghai to Rotterdam experienced a significant decline of 19% which is $797. This brought prices to $3,434 for a 40ft container. In the same way, rates from Shanghai to Genoa decreased by 10% or $524 to $4,62 for a 40ft container. Shipping rates from Shanghai up to Los Angeles reduced by 8 percent, which is $415, at $4,813 per 40ft In addition, rates from Shanghai up to New York fell by 7 percent, or $448 up to $6,377 for a 40ft container. There were other routes that also saw declines like the ones from Rotterdam towards Shanghai, Los Angeles to Shanghai, New York to Rotterdam as well as Rotterdam up to New York, which all experienced a reduction of 1 percent and are now $515, $721, 821 as well as $2,778 for a 40ft containers.


Click to expand

Drewry expects a small drop in the spot rate in the next week, fueled in part by Chinese Lunar New Year holidays.

For additional information, click here:

Drewry

Tel: +44 (0)207 538 0191

Email: [email protected]

www.drewry.co.uk

Related Agroforestry News Posts:

  1. The thief in Melon is stopped by a drone The Local Police of Almenara, located in the province of Castellon has managed to detain two people who stole melons from a field within the municipality. This was due to drones during their surveillance. The two were taken to justice...
  2. Increased consumption of fruits and vegetables equivalent to walking an extra 4,000 steps every day’ Recent research indicates that an eat-well diet that is rich in fruits vegetables, whole grains and other veggies may be as beneficial to your heart as taking more than 4,000 steps per day. The research is released in the European...
  3. The harvesting process is delayed in the NEPG. Uncertainty about the production of the end product In the wake of a record rainfall many potatoes from the EU-4 still haven’t been picked. The period for lifting was long to allow the potatoes to be preserved in good health. The contracts for the coming season will have...
  4. Avocado Market size is predicted to grow to $21.55 billion by 2028. Market reports on the global level of The Business Research Company have been updated to reflect the most current market size figures for 2024, and projections have been extended until 2033. The Business Research Corporation’s “Avocado global market report 2024”...
  5. What Canadian interest rates could have an impact on Ontario the apple farmers Many Ontario apple farmers are getting towards the close of their season for harvest on an apple crop that’s slightly more than what they had hoped for. “We’re receiving reports of really great sizes and quality,” says Cathy McKay who...

Source: The Plantations International Agroforestry Group of Companies