World Container Index - 17 Mar


Drewry’s composite World Container Index decreased by 3.8% to $8,832.23 per 40ft container this week.

Our detailed assessment for Thursday, 17 March 2022

  • The composite index decreased by 3.8% this week, but, remains 79% higher than a year ago.
  • The average composite index of the WCI, assessed by Drewry for year-to-date, is $9,360 per 40ft container, which is $6,231 higher than the five-year average of $3,129 per 40ft container.
  • Drewry’s World Container Index composite index decreased by 3.8% to $8,832.23 per 40ft container, but is 79% higher than the same week in 2021. The WCI composite index fell below $9,000 per 40ft container for the first time since 29th July 2021. Freight rates on Shanghai — Los Angeles sank 7% or $811 to $10,154 per 40ft box. Spot rates on Shanghai — New York dropped 5% or $685 to $12,276 per feu. Similarly, FAK rates on Shanghai — Rotterdam fell 4% or $464 to $12,221 per 40ft box. However, rates on Rotterdam — Shanghai grew 3% to $1,515 per feu. Rates on Shanghai — Genoa, Los Angeles — Shanghai and New York — Rotterdam rose 1% each and rates on Rotterdam — New York hovered around previous weeks level. Drewry expects spot rates to remain stable in the coming week.

Analytics on topic
What is the China-Europe Railway Express, and how much pressure is it under from the Ukraine crisis?

The China-Europe Railway Express, or China Railway Express (CRE), is key logistical cog in President Xi Jinping’s Belt and Road Initiative. It provides an alternative to container shipping for transporting Chinese manufactured goods to Europe via Russia.

Source: South China Morning Post
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