The World Container Index, a composite of container freight rates on eight major routes to/from the US, Europe and Asia, is down by 0.8 % to 1,282.1 $ for a 40 ft container. Drewry expects carriers to attempt rate hikes.
The composite index is down by 0.8 % 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 1,515 $ for a 40 ft container, which is 107 $ lower than the five-year average of 1,622 & per 40 ft container. It is also 1 % higher than a year ago.
Drewry’s composite index lost another 10 4 per FEU this week to reach 1,282 $. Freight rates have dropped after the Golden Week holidays in China. The World Container Index (WCI) between Shanghai and Rotterdam lost 48 $ for a 40 ft box this week to reach 1,277 $, and the rates on Shanghai-New York declined by 20 $ to reach 1,940 $ per 40 ft box. However, the rates from Shanghai to Los Angeles gathered 26 $ to reach 1,465 $ per FEU. Drewry expects carriers to attempt rate hikes for the second half of October and this should result in an upward rate movement next week.
