Drewry Container Index Rises 3% to $4,485, Ending 13 Weeks of Decline
The Drewry World Container Index rose 3% to $4,485 per 40-foot container in week 42, ending 13 consecutive weeks of decline.
The Drewry World Container Index rose 3% to $4,485 per 40-foot container in the 42nd week, ending 13 consecutive weeks of decline.
The Shanghai-Rotterdam route rose 6% to $3,522, and the Shanghai-Genoa route rose 7% to $3,945, according to Drewry data. Conversely, the Shanghai-New York route fell 1% to $10,075.
Drewry expected rates to remain relatively stable in the following week, as capacity continues to return to the Suez Canal route and China's "Golden Week" holiday impacts demand.
These rates directly affect the region's exporters because they represent a large part of the cost of delivering their goods to European and American markets, so their stability or increase reflects on export margins.
What do these terms mean?
Drewry Index (WCI): A weekly index measuring spot container freight rates on major global routes, published by maritime consulting firm Drewry.
Forty-foot Equivalent Unit (FEU): A unit of measurement equal to a standard 40-foot container, used for pricing and comparing container shipping volumes.
Golden Week: A week-long national holiday in China during which factories shut down, temporarily reducing shipping traffic.
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