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 3.6% to 1500.87/40ft container [updated Thurs, 18 May 17].
Two-year spot freight rate trend for the World Container Index:
The composite index is down by 3.6% this week and up by 43% from the same period of 2016.
The average composite index of the World Container Index assessed by Drewry for the year to date is US$1,587/40ft container, $118 lower than the 5-year average of $1,705/40ft container. It is 43% higher than a year ago.
The spot rates on the Asia-Europe trade continue to tumble, and as a result, the World Container Index on Shanghai to Rotterdam declined by 3% or $58 to $1,811 for a 40ft box. Similarly, GRIs on the Transpacific trade are also losing ground, but at a slower pace. This week, the WCI on Shanghai-Los Angeles and Shanghai-New York fell by another 9% and 3% respectively.
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: