World Container Index - 16 Nov
Drewry’s World Container Index decreased by 2% to $1,469 per 40ft container this week.
Source: Drewry World Container Index, Drewry Supply Chain Advisors
Our detailed assessment for Thursday, 16 November 2023
- The composite index decreased by 2% to $1,469 this week and has dropped by 43% when compared with the same week last year.
- The latest Drewry WCI composite index of $1,469 per 40-foot container is now 3% more than average 2019 (pre-pandemic) rates of $1,420.
- The average composite index for the year-to-date is $1,695 per 40ft container, which is $980 lower than the 10-year average rates of $2,675 (which was inflated by the exceptional 2020-22 Covid period).
- Freight rates on Shanghai to Rotterdam decreased by 4% to $1,227 per 40ft container. Likewise, rates on Shanghai to Los Angeles declined by 3% or $79 to $2,208 per 40ft box. Similarly rates on Shanghai to New York diminished by 2% or $40 to $2,621 per feu. Conversely rates on New York to Rotterdam increased by 2% or $12 to $614 per 40ft container. Likewise, rates on Rotterdam to Shanghai and Rotterdam to New York inched up 1% to $466 and $1,510 per 40ft box respectively. However, rates on Los Angeles to Shanghai remained stable to its previous week’s level. Drewry anticipates East-West spot rates on lanes to remain close to current levels, overall, in the upcoming weeks.
If you need spot market container freight rate information on other routes to those below, find out more about our Container Freight Rate Insight (CFRI) online service, which covers over 790 global port pairs (updated monthly).
Spot freight rates by major route
Our assessment across eight major East-West trades:
World Container Index: Correlations and methodology
Find out more about the process we follow to establish our weekly index and correlations between tradelane indices and the main composite index from 1Q13 to 4Q21.