The World Container Index assessed by Drewry is down by 2.5% to 1,502 $ per 40ft container. Peak season rate growth is expected to be moderate this year.
The composite index of container freight rates on eight major routes to/from the US, Europe and Asia is down by 3 % this week [ds_preview]and up by 9 % from the same period of 2016. The average composite index of the WCI, assessed by Drewry for year-to-date, is 1,543 $ per 40ft container, which is 100 $ lower than the five-year average of 1,643 $ per 40ft container. It is also 9 % higher than a year ago.
Spot rates on the Asia-Europe and the Transpacific trades declined this week. Rates on the Shanghai-Rotterdam route lost 37 $ to reach 1,702 $ per feu. On the other hand, rates on Shanghai-New York plummeted by 104 $ to reach 2,473 $ for a 40 ft box, and rates on Shanghai-Los Angeles tanked by 59 $ to reach 1,561 $. Since the GRIs, in the initial week of September, have been deferred, the peak season rate growth is expected to be moderate this year.
