Source: Drewry Supply Chain Advisors
Source: Drewry Supply Chain Advisors
The table above shows the correlations in the period 1Q13-4Q21 between the 8 WCI indices - the WCI composite index, the 4 ex-Shanghai lane-specific indices and the 3 other lane-specific indices.
The table shows that the composite index and the 4 ex-Shanghai lane-specific indices are all very highly correlated (0.98 or higher coefficient of correlation).
For the transatlantic lanes, the correlation and risk profile varies by direction:
For analysis on the correlations between other lanes not covered here or for advice on hedging and rate forecasting, please contact supplychains@drewry.co.uk
Drewry World Container Index reports actual spot container freight rates for major East West trade routes. The Index consists of 8 route-specific indices representing individual shipping routes and a composite index. All indices are reported in USD per 40ft Container.
Market assessments will be collected for the following routes:
World Container Index is a composite of the 8 route indices weighted for volume on each of the routes representative trade. Volume is expressed in Million TEU’s.
Source: Drewry Routes database and Drewry Container Forecaster, March 2011.
Data for the index is collected from transport intermediaries (Freight Forwarders / NVOCC’s) based in Europe, North America and Asia. These organisations report the freight rates on which they are moving cargo with a number of major shipping lines.
The exact identities of the panellists are confidential, however a generic description of them and the regions where they are based can be found below:
In the event that the World Container Index assessed by Drewry is not able to collect sufficient data to meet the above minimums in any one week it will source data directly from Drewry Shipping Consultants Ltd. Drewry Shipping Consultants will use their expert opinion to provide a representative average rate for the previous 2 days based on reported agreed freight rates on similar routes and Drewry Shipping Consultants Ltd’s own experience.
Rates for the World Container Index assessed by Drewry are reported on a container yard (CY) to container yard basis and do not include any charges for intermodal (inland) transportation.
The surcharges included in the total ocean freight reported by the index are:
The surcharges which are not included in the total ocean freight/the index are:
The terminal handling charges (THCs) are included or excluded in the total ocean freight reported by the index are as follows:
Panellists provide up to 4 market assessments each per week for each route on which they submit data. As described in the Market Assessment section above, each market assessment is for a rate which that panellist has agreed with a major carrier. These market assessments are then calculated into the minor indices using the following method.
On a per route basis:
Source: Drewry Supply Chain Advisors
N.B. Only the final World Container Index (assessed by Drewry) rate is published. The World Container Index (assessed by Drewry) does not report the rates of individual panellists or individual shipping lines. The process ensures that a single market assessment is indistinguishable in the final World Container Index rate published.
We have been aggregating, mining and publishing ocean freight rate intelligence since 2006. Find out about our full range of spot and contract ocean freight rate benchmarking services, including membership of our Benchmarking Club (exclusive to shippers/BCOs).
For further information on our range of ocean freight cost benchmarking and procurement support services, please contact us at:
T +44 (0)20 7538 0191
Drewry Supply Chain Advisors, 35-41 Folgate Street, London E1 6BX, United Kingdom
Jan 2019 = 100
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