Drewry’s composite World Container Index decreased by 0.9% to US$7,657.20 per 40ft container the week of 12 May 2022, compared with the previous week’s figure. Despite the fall though, it remains 33.7% higher than a year ago.

The average composite index of the World Container Index (WCI), assessed by Drewry for year-to-date, is US$8,768 per 40ft container, which is US$5,439 higher than the five-year average of US$3,329 per 40ft container.

Meanwhile, freight rates on Shanghai – Rotterdam dropped 2% to US$9,824 per feu. Additionally, spot rates on Shanghai – New York fell 3% to US$10,926 per 40ft box. Similarly, rates on Shanghai – Genoa dipped 1% to US$11,736 and rates on Rotterdam – Shanghai fell to US$1,430 per 40ft container.

However, rates on Shanghai – Los Angeles and Los Angeles – Shanghai gained 1% each to reach US$8,666 and US$1,286 per feu, respectively.

Moreover, rates on Rotterdam – New York and New York – Rotterdam hovered around the previous weeks’ levels. Drewry expects spot rates to remain stable in the coming weeks.

Spot freight rates by major route

Drewry’s assessment across eight major East-West trades:

Source: Container News