Drewry: World Container Index down by 0.8%
The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, is down by 0.8% to $1282.1/40ft container [updated Thurs, 12 Oct 17].
Two-year spot freight rate trend for the World Container Index:
World Container Index: Drewry assessment on Thursday, 12 October 2017
- The composite index is down by 0.8% this week and up by 1% from the same period of 2016.
- The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,515/40ft container, which is $107 lower than the five-year average of $1,622/40ft container. It is also 1% higher than a year ago.
- Drewry’s composite index lost another $10 per feu this week to reach $1,282. Freight rates have dropped after the Golden Week holidays in China. The World Container Index (WCI) between Shanghai and Rotterdam lost $48 for a 40ft box this week to reach $1,277, and the rates on Shanghai-New York declined by $20 to reach $1,940 per 40ft box. However, the rates from Shanghai to Los Angeles gathered $26 to reach $1,465 per feu. Carriers will attempt rate hikes for the second half of October and this should result in an upward rate movement next week.