Positive indication at the global container shipping market: The World Container Index for freight rates assessed by maritime consultancy Drewry rose by 13% to 1,612.83 $ per FEU.
The Index is a composite of container freight rates on eight major routes to/from the US, Europe and[ds_preview] Asia and is updated every week. The growth is remarkable in numbers and in contrast to last weeks slight decrease by 1.6%. Compared with the same period of 2016. the index climbed even more by 40%.
However, the average composite index for the year to date is 1,593 $ per FEU, 121 $ lower than the 5-year average of 1,715 per FEU, Drewry states.
Spot rates from Europe to Asia continue to decline with rates from Rotterdam to Shanghai loosing 20% or 311 $ from last week. »We expect this trend to continue as space availability is no longer a challenge for shippers«, it was added.
Meanwhile the headhaul rates on Shanghai to Rotterdam and Shanghai to Los Angeles spiked by 23% and 20% respectively on the back of GRIs. The Drewry experts expect strong spot markets next week as new alliances and their revised schedules have led to roll over of boxes at hub ports, forcing shippers to book slots 10-14 days in advance.
