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 1.8 % to 1,207.87 $ per 40ft container.
The composite index is down by 1.8 % this week and down by 13.26 % from the same period o[ds_preview]f 2016. The average composite index of the WCI, assessed by Drewry for year-to-date, is 1,487 $ for a 40ft container, which is 116 $ lower than the five-year average of 1,603 $ per 40ft container. It is also 13.26 % lower than a year ago.
Spot rates remain weak on major East-West routes against the backdrop of slowing demand. The World Container Index (WCI), assessed by Drewry on the Shanghai-Rotterdam route, lost 50 $ from last week to reach 1,314 $ for a 40ft box. Rates are 16 % weaker than in the same period in 2016. Meanwhile, rates on Shanghai-Los Angeles inched up by 24 $ for a 40ft box, but rates on Shanghai-New York shed 82 $ to reach 1,843 $ per feu. Rates on Shanghai-Los Angeles are 18 % and Shanghai-New York are 29 % less than in the same period in 2016.
