Year to date, the average composite index is US$3,443 per 40 ft container, which is US$707 higher than the 10-year average of US$2,736. The 10-year average stood partly higher due to the spike in rates from 2020 to 2022 during the pandemic. Before that, freight rates steadily decreased as they came off from the Covid-19 highs.
Since the pandemic, global shipping rates have fluctuated wildly, as evidenced by the earnings of companies like Samudera Shipping Line (SGX:S56
) .
On June 13, the Drewry World Container Index (WCI) reported an increase of 2% to US$4,801 ($6,494) per 40 ft container for the week. On a y-o-y basis, the latest rate marked a 202% increase. The latest figure is also 238%, more than triple the rate of US$1,420 in 2019 or before the Covid-19 pandemic.
