Spot rates on the Shanghai-Rotterdam route have stabilised while rates on the Transpacific eastbound trade continue to decline. The World Container Index is down by 1%.
The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from [ds_preview]the US, Europe and Asia, is down by 1% to 1381 $ per 40ft container this week. Compared to the same period of 2016, the index is up 12 %.
The average composite index of the WCI for year-to-date is 1,552 $ per 40ft container, which is 127 $ lower than the five-year average of 1,679 $ per 40ft container. It is also 12 % higher than a year ago.
On the Shanghai-Rotterdam routes spot rates stabilised at 1,652 $ for a 40ft box this week. Meanwhile, rates on the Transpacific eastbound trade continue to decline, Drewry says.
Spot rates from Shanghai to New York lost 44 $ to reach 2,017 $ for a 40ft box and rates to Los Angeles dipped by 28 $ to 1,133 $. The rates are likely to increase from next week as a result of peak season demand.
