Drewry focuses on the World Container Index, which is a composite of container freight rates on 8 major routes to/from the US, Europe and Asia and is increased by 0.7% to $1,765.58 per 40ft container.
Mainly, the composite index is up by 0.7% this week, similarly, 20.5% up as compared with same period of 2018.
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Moreover, the average composite index of the WCI is US $1,750/40ft container, which is $244 higher than the five-year average of $1,507/40ft container.
In the meantime, freight rates on Shanghai-New York experienced an increase from $135 to $3,380 for a 40ft box.
Equally, the rates from Shanghai to Rotterdam grew $104 to $1,943 per feu.
On the other hand, freight rates on Shanghai-Los Angeles reduced $77 to reach $2,197 for a 40ft container. Yet, Drewry stated that there are expectations the rates will increase before Chinese New Year.
Two-year spot freight rate trend for the World Container Index:
