World Container Index
The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, decreased to $1806,43 per 40ft container this week.
| Drewry World Container Index of spot container freight rates (US$/40ft container) | ||||||
Composite Index | Shanghai – Rotterdam | Rotterdam-Shanghai | Rotterdam-New York | |||
| Year | Week | Date | Freight rate (US$/40ft container) | Freight rate (US$/40ft container) | Freight rate (US$/40ft container) | Freight rate (US$/40ft container) |
| 2022 | 9 | 3-Mar-22 | 9279,46 | 12.968 US$ | 1.439 US$ | 6.476 US$ |
| 2022 | 10 | 10-Mar-22 | 9179,98 | 12.685 US$ | 1.474 US$ | 6.494 US$ |
| 2022 | 11 | 17-Mar-22 | 8832,23 | 12.221 US$ | 1.515 US$ | 6.491 US$ |
| 2022 | 12 | 24-Mar-22 | 8470,45 | 11.192 US$ | 1.490 US$ | 6.793 US$ |
| 2022 | 13 | 31-Mar-22 | 8152,09 | 11.099 US$ | 1.492 US$ | 6.680 US$ |
| 2022 | 14 | 7-Apr-22 | 8041,50 | 10.845 US$ | 1.455 US$ | 6.903 US$ |
| 2022 | 15 | 14-Apr-22 | 7945,31 | 10.577 US$ | 1.402 US$ | 6.929 US$ |
| 2022 | 16 | 21-Apr-22 | 7874,43 | 10.364 US$ | 1.405 US$ | 6.934 US$ |
| 2022 | 17 | 28-Apr-22 | 7768,18 | 10.199 US$ | 1.417 US$ | 6.940 US$ |
| 2022 | 18 | 5-May-22 | 7727,84 | 9.987 US$ | 1.451 US$ | 7.212 US$ |
| 2022 | 19 | 12-May-22 | 7657,20 | 9.824 US$ | 1.430 US$ | 7.201 US$ |
| 2022 | 20 | 19-May-22 | 7648,18 | 9.793 US$ | 1.425 US$ | 7.189 US$ |
| 2022 | 21 | 26-May-22 | 7635,28 | 9.751 US$ | 1.419 US$ | 7.186 US$ |
| 2022 | 22 | 2-Jun-22 | 7625,56 | 9.736 US$ | 1.419 US$ | 7.186 US$ |
| 2022 | 23 | 9-Jun-22 | 7578,65 | 9.799 US$ | 1.431 US$ | 7.100 US$ |
| 2022 | 24 | 16-Jun-22 | 7502,43 | 9.784 US$ | 1.414 US$ | 6.938 US$ |
| 2022 | 25 | 23-Jun-22 | 7285,89 | 9.598 US$ | 1.413 US$ | 6.849 US$ |
| 2022 | 26 | 30-Jun-22 | 7066,03 | 9.240 US$ | 1.402 US$ | 6.783 US$ |
| 2022 | 27 | 7-Jul-22 | 7050,94 | 9.280 US$ | 1.328 US$ | 6.801 US$ |
| 2022 | 28 | 14-Jul-22 | 6998,80 | 9.182 US$ | 1.241 US$ | 6.929 US$ |
| 2022 | 29 | 21-Jul-22 | 6820,04 | 9.092 US$ | 1.212 US$ | 6.926 US$ |
| 2022 | 30 | 28-Jul-22 | 6761,63 | 9.154 US$ | 1.197 US$ | 6.921 US$ |
| 2022 | 31 | 4-Aug-22 | 6628,29 | 8.939 US$ | 1.199 US$ | 6.939 US$ |
| 2022 | 32 | 11-Aug-22 | 6430,07 | 8.833 US$ | 1.195 US$ | 6.945 US$ |
| 2022 | 33 | 18-Aug-22 | 6223,82 | 8.430 US$ | 1.187 US$ | 6.936 US$ |
| 2022 | 34 | 25-Aug-22 | 5985,53 | 8.010 US$ | 1.190 US$ | 6.922 US$ |
| 2022 | 35 | 1-Sep-22 | 5661,69 | 7.583 US$ | 1.190 US$ | 6.839 US$ |
| 2022 | 36 | 8-Sep-22 | 5378,68 | 7.435 US$ | 1.082 US$ | 6.688 US$ |
| 2022 | 37 | 15-Sep-22 | 4941,91 | 6.671 US$ | 1.059 US$ | 6.607 US$ |
| 2022 | 38 | 22-Sep-22 | 4471,99 | 6.027 US$ | 1.006 US$ | 6.737 US$ |
| 2022 | 39 | 29-Sep-22 | 4014,10 | 5.441 US$ | 1.003 US$ | 7.038 US$ |
| 2022 | 40 | 6-Oct-22 | 3688,75 | 4.724 US$ | 967 US$ | 7.252 US$ |
| 2022 | 41 | 13-Oct-22 | 3483,19 | 4.595 US$ | 915 US$ | 7.295 US$ |
| 2022 | 42 | 20-Oct-22 | 3383,46 | 4.436 US$ | 887 US$ | 7.264 US$ |
| 2022 | 43 | 27-Oct-22 | 3145,11 | 3.845 US$ | 887 US$ | 7.284 US$ |
| 2022 | 44 | 3-Nov-22 | 3049,73 | 3.684 US$ | 876 US$ | 7.426 US$ |
| 2022 | 45 | 10-Nov-22 | 2773,49 | 3.126 US$ | 867 US$ | 7.336 US$ |
| 2022 | 46 | 17-Nov-22 | 2591,41 | 2.687 US$ | 840 US$ | 7.363 US$ |
| 2022 | 47 | 24-Nov-22 | 2404,46 | 2.192 US$ | 819 US$ | 7.224 US$ |
| 2022 | 48 | 1-Dec-22 | 2284,10 | 1.965 US$ | 820 US$ | 7.240 US$ |
| 2022 | 49 | 8-Dec-22 | 2138,70 | 1.686 US$ | 799 US$ | 7.151 US$ |
| 2022 | 50 | 15-Dec-22 | 2127,33 | 1.674 US$ | 797 US$ | 7.050 US$ |
| 2022 | 51 | 22-Dec-22 | 2119,96 | 1.706 US$ | 789 US$ | 6.989 US$ |
| 2023 | 1 | 5-Jan-23 | 2135,16 | 1.874 US$ | 785 US$ | 6.589 US$ |
| 2023 | 2 | 12-Jan-23 | 2132,49 | 1.888 US$ | 785 US$ | 6.363 US$ |
| 2023 | 3 | 19-Jan-23 | 2078,90 | 1.808 US$ | 797 US$ | 6.296 US$ |
| 2023 | 4 | 26-Jan-23 | 2046,51 | 1.741 US$ | 762 US$ | 6.322 US$ |
| 2023 | 5 | 2-Feb-23 | 2033,70 | 1.732 US$ | 786 US$ | 6.262 US$ |
| 2023 | 6 | 9-Feb-23 | 1997,22 | 1.715 US$ | 761 US$ | 6.010 US$ |
| 2023 | 7 | 16-Feb-23 | 1954,64 | 1.698 US$ | 754 US$ | 5.675 US$ |
| 2023 | 8 | 23-Feb-23 | 1897,88 | 1.633 US$ | 728 US$ | 5.640 US$ |
| 2023 | 9 | 2-Mar-23 | 1859,28 | 1.593 US$ | 715 US$ | 5.573 US$ |
| 2023 | 10 | 9-Mar-23 | 1806,43 | 1.562 US$ | 702 US$ | 5.377 US$ |
World Container Index: An Overview of Drewry’s Composite of Container Freight Rates
Container shipping is an essential part of global trade, and container freight rates are a key indicator of the health of the industry. Drewry, a maritime research and consulting firm, has developed a composite index of container freight rates on eight major routes to/from the US, Europe, and Asia, called the World Container Index (WCI). This article provides an overview of the WCI, its methodology, and its implications for the container shipping industry.
Table of Contents
- Introduction
- What is the World Container Index (WCI)?
- How is the WCI calculated?
- What are the components of the WCI?
- What are the major routes covered by the WCI?
- How has the WCI performed historically?
- What are the implications of the WCI for the container shipping industry?
- Conclusion
- FAQs
1. Introduction
The container shipping industry plays a vital role in global trade, facilitating the movement of goods between countries and continents. Container freight rates, which refer to the cost of transporting containers on ships, are a crucial indicator of the industry’s health and performance. Drewry’s World Container Index (WCI) is a composite index that provides a snapshot of container freight rates on eight major routes to/from the US, Europe, and Asia.
2. What is the World Container Index (WCI)?
The World Container Index (WCI) is a composite index of container freight rates on eight major routes to/from the US, Europe, and Asia. It was developed by Drewry, a maritime research and consulting firm, and is designed to provide a snapshot of container freight rates on the most important trade routes. The WCI is updated weekly and is widely used as a benchmark for container freight rates.
The World Container Index (WCI) is a global freight rate index that provides a weekly assessment of container freight rates on 11 major trade routes. It is used as a benchmark by shippers, carriers, and freight forwarders to monitor and compare rates across different routes and shipping lines. In this article, we will discuss the implications of the WCI for the container shipping industry, the limitations of the WCI, how it compares to other container freight rate indices, and provide a conclusion.
3. How is the WCI calculated?
The WCI is calculated using a weighted average of freight rates on eight major trade routes, which are updated on a weekly basis. The weighting of each route is based on the volume of containers transported on that route. The WCI is calculated using a fixed set of weights that are updated annually, based on the previous year’s trade volumes.
4. What are the components of the WCI?
The WCI is composed of eight sub-indices, each of which represents a major trade route. The sub-indices are as follows:
- WCI Asia-Europe
- WCI Asia-Mediterranean
- WCI Asia-US West Coast
- WCI Asia-US East Coast
- WCI Europe-US East Coast
- WCI Mediterranean-US East Coast
- WCI Asia-US Gulf Coast
- WCI Europe-Mediterranean
5. What are the major routes covered by the WCI?
The WCI covers eight major trade routes, which are as follows:
- Asia-Europe
- Asia-Mediterranean
- Asia-US West Coast
- Asia-US East Coast
- Europe-US East Coast
- Mediterranean-US East Coast
- Asia-US Gulf Coast
- Europe-Mediterranean
6. How has the WCI performed historically?
The WCI has shown significant volatility over the years, reflecting the ups and downs of the container shipping industry. For example, in 2016, the WCI hit an all-time low due to overcapacity and weak demand. However, in 2017, the WCI rebounded strongly, reflecting a recovery in demand and a reduction in capacity.
Comparison to other container freight rate indices:
There are several other container freight rate indices that are used in the industry, such as the Shanghai Containerized Freight Index (SCFI), the Drewry Container Freight Rate Insight (CFRI), and the Freightos Baltic Index (FBX). Each index has its own methodology and coverage, with some focusing on specific trade routes or carriers. The WCI is unique in that it covers a wide range of trade routes and carriers, making it a more comprehensive index.
7. What are the implications of the WCI for the container shipping industry?
The World Container Index (WCI) has become an increasingly important tool for the container shipping industry. This index tracks shipping rates for containers on major trade routes, allowing shippers and carriers to make informed decisions about pricing and capacity. The implications of the WCI are significant for the industry, as it provides a more accurate picture of market conditions and can help to stabilize rates over time. By using the WCI, shippers and carriers can make better decisions about when and where to ship their goods, helping to improve the efficiency of the container shipping market.
8.Conclusion
In conclusion, the World Container Index (WCI) is a valuable tool for the container shipping industry, providing a more accurate picture of market conditions and helping to stabilize rates over time. While there are limitations to the WCI, it remains a key resource for shippers and carriers looking to make informed decisions about pricing and capacity. Additionally, the WCI can be compared to other container freight rate indices to provide a more complete picture of the global container shipping market.
9. FAQs
Q: What is the World Container Index (WCI)?
A: The WCI is an index that tracks shipping rates for containers on major trade routes.
Q: Why is the WCI important for the container shipping industry?
A: The WCI provides a more accurate picture of market conditions and can help to stabilize rates over time, allowing shippers and carriers to make informed decisions about pricing and capacity.
Q: What are the limitations of the WCI?
A: The WCI only tracks spot rates and covers a limited number of trade routes, and may not take into account other factors that can affect shipping rates.
Q: How does the WCI compare to other container freight rate indices?
A: There are several other container freight rate indices, including the Shanghai Containerized Freight Index (SCFI) and the Drewry Container Freight Rate Insight, which may use different methodologies or cover different trade routes.