Drewry: World Container Index Down 8%
The composite index is down 8% this week, but 1% up as compared with same period of 2018.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1684/40ft container, which is $190 higher than the five-year average of $1,494/40ft container.
Drewry’s composite World Container Index (WCI) dropped $128.51 to $1477.58 per 40ft container. Freight rates from Shanghai to Los Angeles plummeted by $389 to reach $1,590 from $1979 per feu. Rates on Shanghai-New York fell $189 to $2,790 for a 40ft box. Similarly, rates on Shanghai-Genoa slid by $112 to $1,745 for a 40ft container. Drewry expects freight rates to weaken during the next week.
Two-year spot freight rate trend for the World Container Index: