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 0.8% to $1282.1/40ft container [updated Thurs, 12 Oct 17].
Two-year spot freight rate trend for the World Container Index:
The composite index is down by 0.8% this week and up by 1% from the same period of 2016.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,515/40ft container, which is $107 lower than the five-year average of $1,622/40ft container. It is also 1% higher than a year ago.
Drewry’s composite index lost another $10 per feu this week to reach $1,282. Freight rates have dropped after the Golden Week holidays in China. The World Container Index (WCI) between Shanghai and Rotterdam lost $48 for a 40ft box this week to reach $1,277, and the rates on Shanghai-New York declined by $20 to reach $1,940 per 40ft box. However, the rates from Shanghai to Los Angeles gathered $26 to reach $1,465 per feu. Carriers will attempt rate hikes for the second half of October and this should result in an upward rate movement next week.
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.