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 up by 25.6 % to 1,517.1 $ for a 40ft container.
The composite index is up by 25.6 % this week and down by 1 % from the same period of 201[ds_preview]6. The average composite index of the WCI, assessed by Drewry for year-to-date, is 1,502 $ per 40ft container, which is 111 $ lower than the five-year average of 1,613 $ for a 40ft container. It is also 1 % lower than a year ago.
During the first week of November, to cash in on the expected uptick in demand before the Christmas holidays, the carriers implemented GRIs on the East-West routes originating from Asia. As a result, the World Container Index (WCI) between Shanghai and Rotterdam gathered 462 $ for a 40ft box to reach 1,716 $. On the Transpacific trade, rates on Shanghai-New York strengthened by 615 $ to reach 2,404 $ per 40ft box. Similarly, rates from Shanghai to Los Angeles went up by 313 $ to reach 1,634 $ per feu.
