The World Container Index assessed by Drewry, a composite of container freight rates on eight major routes to/from the US, Europe and Asia, is down by 4.9 % to 1,317.53 $ per 40ft container.
The composite index is down by 4.9 % this week and down by 6 % from the same period of 20[ds_preview]16. The average composite index of the WCI, assessed by Drewry for year-to-date, is 1,527 $ for a 40ft container, which is 101 % lower than the five-year average of 1,628 $ per 40ft container. It is also 6 % lower than a year ago.
Two-year spot freight rate trend for the World Container Index (Source: Drewry)
The rates have dropped ahead of the Golden Week holidays in China. The World Container Index (WCI) between Shanghai and Rotterdam lost another 54 $ for a 40ft box this week to reach 1,1397 $. Similarly, the rates from Shanghai to Los Angeles dropped by 82 $ to reach 1,464 $ per FEU and the rates on Shanghai-New York declined by another 154 $ to reach 1,981 $ per 40ft box. Drewry expect the rates to fall further next week on account of the Chinese factory shutdown.
