Drewry: World Container Index Down by 2.1% on the Week
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 2.1% to $1517/40ft container [updated Thurs, 13 Jul 17].
Two-year spot freight rate trend for the World Container Index:
World Container Index: Drewry assessment on Thursday, 13 July 2017
- The composite index is down by 2.1% this week and up by 13% from the same period of 2016.
- The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,551/40ft container, which is $120 lower than the five-year average of $1,671/40ft container. It is also 13% higher than a year ago.
- Spot rates on the Shanghai-Rotterdam route fell by $71 to $1,865 for a 40ft box this week. The rate volatility decreased largely as the weekly decline for the same period in 2016 was $232. Similarly, overcapacity and a slow start to the peak season dragged down the Transpacific eastbound rates. The spot rates from Shanghai to New York lost $20 to reach $2,385 for a 40ft box and the rates from Shanghai to Los Angeles dropped by $77 to $1,313. Drewry expects the deferral of GRIs on the Transpacific trade to result in further rate decline next week while the Asia-Europe market is expected to remain strong.