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 2% to $1,133.96/40ft container [updated Thurs, 14 Dec 17].
Two-year spot freight rate trend for the World Container Index:
The composite index is down by 2% this week and down 20% from the same period of 2016.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,466/40ft container, which is $128 lower than the five-year average of $1,595/40ft container. It is also 20% lower than a year ago.
Rates on the Asia-Europe and Transpacific routes softened this week as slack winter season is gripping the major East-West trades. The World Container Index (WCI), assessed by Drewry on the Shanghai-Rotterdam route, lost $31 from last week, to reach $1,376 for a 40ft box. Rates are 19% weaker than in the same period in 2016. Rates on Shanghai-Los Angeles shed $20 for a 40ft box and those on Shanghai-New York edged down by $13 to reach $1,867 per feu. Rates on Shanghai-Los Angeles are 27% and those on Shanghai-New York are 25% weaker than a year ago. We expect the mid-December GRIs to be deferred in the wake of soft demand.
View our latest freight rate assessments on eight major East-West trades:
For further information on Drewry’s extensive range of ocean freight cost benchmarking services for both spot market and contract rates:
Every month we publish global Port Throughput Indices - a series of volume growth/decline indices based on monthly throughput data for a sample of over 220 ports worldwide.