World Container Index Up 5.5% on Week
The composite index increased 5.5% this week and, however 12.2% down as compared with same period of 2018.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,415 per 40ft container, which is $18 higher than the five-year average of $1,397 per 40ft container.
As anticipated last week, Drewry’s composite World Container Index spiked 5.5% or $75 marking the index at $1441.79 per 40ft container, due to IMO 2020 surcharges implementing from 1st December. Major hikes have been seen in Transpacific EB trade routes. Freight rates from Shanghai-Los Angeles surged 14% to $1548 per feu, however the rates are 29% lower when compared to previous year. Similarly, rates on Shanghai to New York elevated by $292 to reach $2590 per 40ft box. Nonetheless, rates on other trade lanes were hovering around the previous week’s rate. Drewry expects rates to remain steady in coming week.