The World Container Index, a composite of container freight rates on eight major routes to/from the US, Europe and Asia, is up by 13.1 %. Rates are expected to drop next week.
The World Container Index assessed by Drewry went up to 1,591.35 $ per 40ft container. The composite in[ds_preview]dex is up by 13.1 % this week and up by 13 % from the same period of 2016. The average composite index of the WCI for year-to-date, is US 1,543 $ per 40ft container, which is 115 $ lower than the five-year average of 1,658 $ per 40ft container. It is also 13% higher than a year ago.
According to the analysts, the 1 August GRIs lifted the head-haul rates on both the Asia-Europe and Transpacific trades this week. Rates on the Shanghai-Rotterdam route are up by 116 $ to reach 1,801 $ for a 40ft box.
Similarly, the rates from Shanghai to New York surged by 517 $ to reach 2,696 $ for a 40ft box, and rates from Shanghai to Los Angeles spiked to 1,676 $ – a change of 458 $ from last week. The peak season is yet to arrive on the Transpacific trade, and rates are expected to drop next week. However, the Asia-Europe spot market will be less volatile.
