Drewry’s latest assessment of the World Container Index shows a decrease by 4.9% to US$1317.53/40ft container, down by 6% from the same period of 2016. The World Container Index is a composite of container freight rates on 8 major routes to/from the US, Europe and Asia.
Drewry further notes a two-year spot freight rate trend for the World Container Index, explaining the following:
- The composite index is down by 4.9% this week and down by 6% from the same period of 2016.
- The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,527/40ft container, which is $101 lower than the five-year average of $1,628/40ft container. It is also 6% lower than a year ago.
- The rates have dropped ahead of the Golden Week holidays in China. The World Container Index (WCI) between Shanghai and Rotterdam lost another $54 for a 40ft box this week to reach $1,1397. Similarly, the rates from Shanghai to Los Angeles dropped by $82 to reach $1,464 per feu and the rates on Shanghai-New York declined by another $154 to reach $1,981 per 40ft box. Drewry expects the rates to fall further next week on account of the Chinese factory shutdown.
