Drewry’s World Container Index rises 8 percent amid a shift in prices for freight

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Drewry’s World Container Index increased 8 percentage to $3,803 per 40ft container last week.

The Drewry WCI composite index increased 8percent to reach $3,803 per feu. That’s 63% lower than the record of $10,377 for the pandemic in September 2021, but 168% higher than the mean of $1,420 in the year 2019 (pre-pandemic).

The mean YTD composite index is $3.946 per feu. This is 1,084 more than the 10 year median of $2,862 (inflated due to the extraordinary 2020-22 Covid timeframe).


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The cost of freight between Shanghai from Los Angeles increased 26% which is $917, bringing them to $4,499 for each feu. Similarly, rates for Shanghai up to New York increased 17% equivalent to $875 to $6,074 for each feu. The rates for Rotterdam towards New York inched up 3 percent, or $91 to $2713 per feu. In contrast rates between Shanghai up to Genoa as well as Rotterdam to Shanghai fell 2%, to $5,424 for each feu or 508 dollars per feu, for instance, while rates from New York to Rotterdam and Shanghai to Rotterdam fell by 1 percent up to $824 per feu and $4,819 per feu in comparison, while rates that ran from Los Angeles to Shanghai remained constant. Drewry believes there will be an increase in the rates of the Transpacific trade during the next week due to front-loading in anticipation of the imminent ILA port strike scheduled for January 2025, and also the expected increase in tariffs that will be imposed by the new Trump Administration.

More information is available here:

Drewry

Tel: +44 (0)207 538 0191

Email: [email protected]

www.drewry.co.uk

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Source: The Plantations International Agroforestry Group of Companies