World Container Index Up 43.1% on a Yearly Basis
The composite index is down 1.2% this week, however, 43.1% up as compared with same period of 2017.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,516/40ft container, which is $2 higher than the five-year average of $1,514/40ft container.
The rate drop on Transpacific trade has led to a decline in Drewry’s composite World Container Index (WCI) by 1.2% to touch $1,622.68 per 40ft containers. Rates on Shanghai-New York fell by $108 from $3,449 to reach $3,341 per feu. Freight rates from Shanghai to Los Angeles dropped by $109 over the last week to stand at $2,077 for a 40ft container. Meanwhile, rates on Shanghai-Rotterdam went up by $25 to reach $1,604 per feu. Similarly, rates on Shanghai-Genoa increased to $1,670 – a change of $62 – for a 40ft box. Drewry expects rates to soften next week.
Two-year spot freight rate trend for the World Container Index: