Início Fashion No respite in Drewry container index, rises further by 7% this week

No respite in Drewry container index, rises further by 7% this week


The Drewry World Container Index (WCI) did not see any respite this week as it further increased by 7 per cent to $5,117 per 40ft container in the week ending June 20. The container freight charges began to rise after unrest in the Middle East region. The index has increased by 233 per cent compared with the same week last year.

According to the latest container freight index released on Thursday by Drewry, the latest Drewry WCI composite index of $5,117 per 40ft container is 260 per cent more than the average 2019 (pre-pandemic) rates of $1,420.

The Drewry World Container Index (WCI) increased by 7 per cent to $5,117 per 40ft container for the week ending June 20.
This marks a 233 per cent rise compared to last year and a 260 per cent increase from 2019 rates.
Freight rates surged due to unrest in the Middle East.
Drewry predicts continued rate hikes due to Asian port congestion.

The average composite index for the year-to-date is $3,510 per 40ft container, which is $768 higher than the 10-year average rate of $2,742 (which was inflated due to the 2020-22 COVID period).

Freight rates from Shanghai to Rotterdam increased by 11 per cent, or $690, to $6,867 per FEU. Similarly, rates from Shanghai to Los Angeles grew by 7 per cent, or $416, to $6,441 per 40ft box. Likewise, rates from Shanghai to New York rose by 3 per cent, or $253, to $7,552 per 40ft container.

Also, rates from Rotterdam to Shanghai and Shanghai to Genoa increased by 2 per cent to $672 and $7,029 per FEU respectively. Conversely, rates from New York to Rotterdam and Rotterdam to New York decreased by 1 per cent to $633 and $2,093 per 40ft box respectively. Meanwhile, rates from Los Angeles to Shanghai remain stable.

Drewry expects that freight rates from China will continue to rise next week due to congestion issues at Asian ports. The container freight rates began to shoot up after intensified attacks in the Red Sea region by Houthi rebels amid the Israel-Hamas conflict.

Fibre2Fashion News Desk (KUL)




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