Drewry’s World Container Index, which takes in freight rates on major routes, fell by 3.6 per cent to 1500.87/40ft container last week.
The composite index, at 18th May, was down by 3.6 per cent on the previous week – but up by 43 per cent from the same period of 2016.
The average composite index of the World Container Index assessed by Drewry for the year to date is US$1,587/40ft container, $118 lower than the 5-year average of $1,705/40ft container. It is 43 per cent higher than a year ago.
Drewry said” “Spot rates on the Asia-Europe trade continue to tumble, and as a result, the World Container Index on Shanghai to Rotterdam declined by 3 per cent or $58 to $1,811 for a 40ft box. Similarly, GRIs on the Transpacific trade are also losing ground, but at a slower pace. This week, the WCI on Shanghai-Los Angeles and Shanghai-New York fell by another 9 per cent and 3 per cent respectively.”
Drewry’s World Container Index is a composite of container freight rates on eight major routes to/from the US, Europe and Asia.