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 1.5% to $1567.66/40ft container [updated Thurs, 10 Aug 17].
Two-year spot freight rate trend for the World Container Index:
The composite index is down by 1.5% this week and up by 23% from the same period of 2016.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,544/40ft container, which is $111 lower than the five-year average of $1,655/40ft container. It is also 23% higher than a year ago.
GRI-induced rate increases softened this week, and consequently, headhaul rates on both the Asia-Europe and Transpacific trades declined marginally. Rates on the Shanghai-Rotterdam route are down by $50 to reach $1,751 for a 40ft box. Similarly, the rates from Shanghai to New York slid by $31 to reach $2,665 for a 40ft box, and those from Shanghai to Los Angeles fell by $19 from the last week to $1,657. Drewry expects rates to stabilise next week as space gets tight on vessels leaving Asia because of the upcoming peak season.
View our latest freight rate assessments on eight major East-West trades:
For further information on Drewry’s extensive ocean freight cost benchmarks for both spot rates and contract rates: