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
China’s Economy Recovered Steadily in 2020 with Main Goals Accomplished Better Than Expectation
The national economy recovered steadily, employment and living standards were ensured forcefully, and the main goals and tasks of economic and social development were accomplished better than expectation. GDP was 101,598.6 billion yuan in 2020, an increase of 2.3 percent over last year.
Source: National Bureau of Statistics of China
The EU’s unsustainable China strategy
Can the EU continue to balance its relationships with China and the US in the context of increased rivalry between the superpowers?