Drewry: World Container Index Up 2%

For many years, World Container Index (WCI) has been the go-to, independent, global reference for index-linked contracts. If your organisation requires regional visibility/coverage beyond the eight trade lanes provided below, contact the team.

• The Drewry World Container Index (WCI), the benchmark widely referenced by procurement teams, increased 2% to $4,585 per 40ft container, driven by higher rates on the Asia to Europe and Transpacific trade routes.

• On the Transpacific trade route, rates from Shanghai to Los Angeles rose 2% to $8,007 per 40ft container and those from Shanghai to New York inched up 1% to $10,166 per 40ft container. According to Drewry’s Container Capacity Insight, only two blank sailings have been announced for next week, down from six this week, indicating more effective capacity. Since strong US import demand continues to support freight rates, Drewry expects rates to remain stable next week.

• On the Asia–Europe trade route, rates from Shanghai to Rotterdam increased 3% to $3,632 per 40ft container and those from Shanghai to Genoa grew 5% to $4,152 per 40ft container. According to Drewry’s Container Capacity Insight, eight blank sailings have been announced for next week, up from two this week, indicating tight capacity. Carriers are reducing capacity via blank sailings to put upwards pressure on freight rates. Meanwhile, congestion at key Asian ports has eased, with vessel waiting times at Shanghai falling from 97 hours in Week 38 to 38 hours in Week 42, indicating significant improvement in port operations. Drewry expects rates to increase slightly next week amid tight capacity.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →