Carriers doing more for less, as lower freight rates take their toll

16 Jul, 2023

Global container freight rates are still – marginally – exceeding pre-pandemic levels, according to Drewry’s latest assessment (although costs have risen).

Drewry’s World Container Index (WCI) composite index points to a marginal, 0.9%, increase in the past week, reaching $1,488 per 40ft container (feu). However prices were drastically lower year on year; down 78.7% on the same week in 2022 and now stand at 86% below their peak of $10,377/feu in September 2021.

However, comparing them with pre-pandemic levels is more favourable, rates remaining 5% above 2019 averages, despite a deluge of newbuildings bringing overcapacity.

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