The composite index surged 23% this week, and 166.6% up when compared with same period of 2019.
The average composite index of the WCI, assessed by Drewry for year-to-date, is $2,087 per 40ft container, which is $560 higher than the five-year average of $1,527 per 40ft container.
Drewry’s composite World Container index surged 23% or $793 to $4,244.05 for a 40ft container, which is 166.6% higher than the same period in 2019. Freight rates on Shanghai-Genoa rose $2,260 to stand at $6,661 for a 40ft box and those on Shanghai-Rotterdam strengthened $1,928 to come in at $6,503 per feu.
Similarly, rates on Shanghai-New York increased $26 to $5,024 for a 40ft container. Also, freight rates on Shanghai-Los Angeles inched up $6 to $4,116 for a 40ft container. Drewry expect rates to continue increasing next week.
Issued on 19 Dec 20