The composite index increased 1% this week and 39.3% up when compared with same period of 2019.
The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,628 per 40ft container, which is $236 higher than the five-year average of $1,392 per 40ft container.
Drewry’s composite World Container index reached a 5-year high of $1,885.17 per 40ft container this week, up 1% from last week, as ongoing capacity reductions propelled spot rates higher and higher. Spot rates from Shanghai to Rotterdam and Shanghai to Genoa soared 11% or $180 and 9% or $167 to $1,830 and $1,956 for a 40ft container respectively. Freight rates on Rotterdam to Shanghai nudged up by 1% to $1,229 per feu. However, rates on Transatlantic routes declined this week. Rates from Rotterdam to New York dwindled 5% – a decline of $134 to touch $2,443 for a 40ft box. Similarly, New York to Rotterdam dropped 2% to $509 per 40ft container. Although, Los Angeles to Shanghai and Shanghai to New York rates remained steady at $522 and $3,196 respectively. Drewry expects rates to remain stable in the coming week.