World Container Index - 28 Oct


Detailed assessment for Thursday, 28 October 2021

The composite index decreased 2% this week, but, remains 276% higher than a year ago.

The average composite index of the WCI, assessed by Drewry for year-to-date, is $7,248 per 40ft container, which is $4,687 higher than the five-year average of $2,561 per 40ft container.

Drewry’s World Container index composite index decreased 2% and reached $9,669.47 per 40ft container, but is 276% higher than the same week in 2020. Freight rates on Shanghai — Rotterdam fell 3% or $493 to reach $14,062 per feu. Similarly, spot rates on Shanghai — Genoa and Shanghai — New York dropped 3% each to reach $13,123 and $13,554 per 40ft box respectively. Rates on Los Angeles — Shanghai fell $13 to $1,302 per 40ft container. However, rates on Rotterdam — Shanghai and Shanghai — Los Angeles gained 1% to reach $1,591 and $10,976 per feu respectively. Rates on New York — Rotterdam and Rotterdam — New York hovered around previous weeks level. Drewry expects rates to remain steady in the coming week.

Analytics on topic
Rail Container Transportation in Eurasia in the First Half of 2020

In the first five months of 2020, the total value of mutual trade between the EU and China carried out by railway transport, increased by 21.22% year-on-year (47.42% more in May than in January 2020) . This development allowed rail transport to increase its share in the total trade volume from 2.83% in January-May 2019 to 3.47% in January-May 2020.

Coronavirus: China’s uneven economic recovery continued in April, as industrial engine returned to growth
In April, China’s industrial output grew by 3.9 per cent, retail sales fell by 7.5 per cent and fixed asset investment fell by 10.3 per cent, suggesting an uneven recovery. Data suggests demand weaknesses remain, while for industrial engine overseas shutdowns will hamper growth before long.
Source: South China Morning Post