Drewry: World Container Index Up by 5.1% on the Week
The composite index increased 5.1% this week and, however 6.6% down as compared with same period of 2018.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,417 per 40ft container, which is $21 higher than the five-year average of $1,396 per 40ft container.
Drewry’s composite World Container Index has further spiked 5.1% or $73 marking the index at $1514.89 per 40ft container. Major surges have been seen in Asia – Europe WB trade routes. Freight rates from Shanghai to Rotterdam soared up by 17% or $277 to $1913 for 40ft box. Similarly, rates from Shanghai to Genoa rose by 10% or $162 to reach $1814 per feu. However, rates from Los Angeles to Shanghai tumbled $81 to reach $355 per 40ft container. Drewry expects rates to further increase in the coming week.
Two-year spot freight rate trend for the World Container Index: