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 5% to $1391/40ft container [updated Thurs, 22 Jun 17].
Two-year spot freight rate trend for the World Container Index:
The composite index is down by 5% this week and up by 49% from the same period of 2016.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,559/40ft container, which is $125 lower than the five-year average of $1,684/40ft container. It is also 49% higher than a year ago.
Spot rates on the Shanghai-Rotterdam route lost another $60 this week to reach $1,652 for a 40ft box. Rates are expected to stabilise over the next week before carriers apply higher FAK rates from 1 July. Meanwhile, rates on the Transpacific trade continue to head south. Spot rates from Shanghai to New York lost $141 to reach $2,061 for a 40ft box while rates to Los Angeles sunk by $121 to $1,161 on account of supply glut and aggressive pricing among carriers.
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: