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 down by 5% to $1147.47/40ft container [updated Thurs, 30 Nov 17].
Two-year spot freight rate trend for the World Container Index:
World Container Index: Drewry assessment on Thursday, 30 November 2017
The composite index is down by 5% this week and down by 19.27% from the same period of 2016.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,480/40ft container, which is $120 lower than the five-year average of $1,600/40ft container. It is also 19.27% lower than a year ago.
Spot rates remain weak on major East-West routes against the backdrop of slowing demand. The World Container Index (WCI), assessed by Drewry on the Shanghai-Rotterdam route, lost $10 from last week to reach $1,304 for a 40ft box. Rates are 21% weaker than in the same period in 2016. Similarly, rates on Shanghai-Los Angeles dwindled by $231 for a 40ft box, and rates on Shanghai-New York shed $23 to reach $1,820 per feu. Rates on Shanghai-Los Angeles are 27% and Shanghai-New York are 29% less than in the same period in 2016.