The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, is up by 0.8% to $1,157.21/40ft container [updated Thurs, 07 Dec 17].
Two-year spot freight rate trend for the World Container Index:
World Container Index: Drewry assessment on Thursday, 07 December 2017
The composite index is up by 0.8% this week and down by 19.57% from the same period of 2016.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,473/40ft container, which is $124 lower than the five-year average of $1,597/40ft container. It is also 19.57% lower than a year ago.
Rate hikes during the first week of December strengthened rates on the Asia-Europe and Transpacific routes. The World Container Index (WCI), assessed by Drewry on the Shanghai-Rotterdam route, surged by $103 from last week, to reach $1,407 for a 40ft box. Rates are 22% weaker than in the same period in 2016. Rates on Shanghai-Los Angeles slid by $48 for a 40ft box. Meanwhile, rates on Shanghai-New York gained $60 to reach $1,880 per feu. Rates on Shanghai-Los Angeles are 26% and those on Shanghai-New York are 23% lesser than in the same period in 2016. We expect the increase on these routes to be momentary, and will follow a downward trajectory next week.