The composite index remained steady this week and, 14.6% up when compared with same period of 2019.
The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,636 per 40ft container, which is $255 higher than the five-year average of $1,380 per 40ft container.
Drewry’s composite World Container index remained steadfast at $1,529.55 per 40ft container. However, we see fluctuations in spot rates on different lanes due to the COVID-19 effect on increased deals for Q2 and the applicability of PSS. Spot rates on Rotterdam to New York gained 10% to reach $2,548, a change of $226 per feu and rates from Rotterdam to Shanghai soared 18%, an increase of $157 to $1,021 per 40ft box respectively. Alternately, spot rates from Shanghai to Rotterdam dropped 9% to $1,433 per feu. Similarly, Shanghai to New York dipped 4% to $2,758. Drewry expects rates to rise in the coming week due to the ongoing Covid-19 situation.