Drewry said that the World Container Index, which is a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, has showed an increase and provided a two-year spot freight rate trend for the index.
According to maritime research consultants, the index is up by 25.6% to $1517.1/40ft container. The World Container Index’s key points can be summarised as following:
- The composite index is up by 25.6% this week and down by 1% from the same period of 2016.
- The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,502/40ft container, which is $111 lower than the five-year average of $1,613/40ft container. It is also 1% lower than a year ago.
- During the first week of November, to cash in on the expected uptick in demand before the Christmas holidays, the carriers implemented GRIs on the East-West routes originating from Asia. As a result, the World Container Index (WCI) between Shanghai and Rotterdam gathered $462 for a 40ft box to reach $1,716. On the Transpacific trade, rates on Shanghai-New York strengthened by $615 to reach $2,404 per 40ft box. Similarly, rates from Shanghai to Los Angeles went up by $313 to reach $1,634 per feu.
