The composite index fell by $1,756.83 per 40ft-ton container. 79% lower than identical week of 2022.

Drewry’s Composite World Container Index decreased by 2percent to $1,756.83 for 40ft containers this week.

Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our complete assessment of the 23rd of March, 2023, Thursday.

  • The index for the composite has dropped by 2% in the last week and also dropped by 79% compared to the same week in the previous year.
  • The most recent Drewry WCI composite index of $1,757/40-foot containers is 83% less than the $10,377 mark that attained in September of 2021. This is 35% less than the average for 10 years of $2,690. This suggests the return of more regular rates, however it remains more than 24% above typical for 2019 (pre-pandemic) prices of $1,420.
  • The composite index average to date for the year is $1,957 for 40ft containers, which is lower by $733 than the average of 10 years ($2,690 that was mentioned earlier).
  • The index composite fell by 2 percentage points to $1,756.83 per 40ft box, which is 79% less than the previous week’s average of 2022. The rates for Rotterdam as well as New York slid by 5 percent, or $265. They settled at $5,061 for a 40ft container. Shipping rates for Shanghai – Rotterdam decreased by 4%, to $1,490 for a 40ft container. The rates for Shanghai and New York dipped 2% to $2,598 for each feu. Rates for Shanghai — Los Angeles and New York – Rotterdam decreased 1% to $1,897 , and $1,153 for a 40ft containers, respectively. The rates on Rotterdam and Shanghai were up 1%, reaching the level of $693 for each feu. The rates for Shanghai Genoa Genoa as well as Los Angeles – Shanghai hovered at the same level as last week’s. Drewry anticipates a slight reduction week-to-week on rates for the coming months.

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Source: The Plantations International Agroforestry Group of Companies