Drewry: World Container Index Down 4.1% on Week
The composite index decreased 4.1% this week similarly, 0.6% down when compared with same period of 2019.
The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,754 per 40ft container, which is $364 higher than the five-year average of $1,390 per 40ft container.
Drewry’s World Container composite index decreased by 4.1% to $1,672.61 per 40ft container. As anticipated in the previous week, freight rates on trades originating from Asia saw a decline due to an outbreak of Coronavirus in China. Spot rates on Shanghai-Genoa plunged by $223 and reached $2487 per 40ft container. Similarly, rates from Shanghai to Rotterdam dropped by 5% – a change of $109 to touch $2033 for a 40ft box. Also, Shanghai-Los Angeles rates declined by $50 – marking the index level at $1540. While freight rates from Rotterdam to Shanghai and Los Angeles to Shanghai remained the same. Drewry expects freight rates to decrease marginally in the coming weeks.