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 2 % to 1,401.60 $ for a 40ft container.
The composite index is down by 2 % this week and down by 5 % from the same period of 2016[ds_preview]. The average composite index of the WCI, assessed by Drewry for year-to-date, is US 1,536 $ per 40ft container, which is 100 $ lower than the five-year average of 1,636 $ for a 40ft container. It is also 5% lower than a year ago.
The pre-Golden Week holiday volume spike is bleak this year as the Chinese government’s crackdown on polluting factories led to massive closures, Drewry says. The less-than-expected demand has already watered down the GRIs in September. The World Container Index (WCI) between Shanghai and Rotterdam lost another 63 $ for a 40ft box this week to reach 1,535 $. While the slump in rates from Shanghai to Los Angeles was minimal at 6 $ to reach 1,485 $ per FEU, rates on Shanghai-New York declined by 128 $ to 2,172 $ per 40ft box. No upturn in rates is in sight for the rest of the month, the analysts say.
