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 4.8 % to 1,430.69 $ per 40ft container.
According to consultancy Drewry the composite index is down by 4.8 % this week and up by [ds_preview]1 % from the same period of 2016. The average composite index of the WCI, assessed by Drewry for year-to-date, is US 1,540 $ per 40ft container, which is 99 $ lower than the five-year average of 1,639 $ 40ft container. It is also 1 % higher than a year ago.
Massive factory closure in China, subsequent to strict government action to curtail pollution, might taper off the pre-Golden Week volume spike this year, Drewry says. As a result, rates are falling rapidly on the Asia-Europe and the Transpacific trades.
The World Container Index (WCI) between Shanghai and Rotterdam lost another 104 $ for a 40ft box this week to reach 1,598 $. The decline was equally pronounced on the Transpacific route. The rates from Shanghai to Los Angeles lost 70 $ to reach 1,491 $ per FEU, and the rates on Shanghai-New York sunk by 173 $ to reach 2,300 $ per 40ft box. »We do not foresee any substantial strengthening of the spot market next week,« the analysts stated.
