The World Container Index (WCI) assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, is down by 1.9% to US$1292.06/40-foot container (updated October 5, 2017).
The composite index is down by 1.9% this week and up by 3% from the same period of 2016.
The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,521/40ft container, which is $104 lower than the five-year average of $1,625/40ft container.
It is also 3% higher than a year ago.
Drewry’s composite index has been heading south since August, losing $299 per FEU in two months to reach $1,292 this week.
The WCI between Shanghai and Rotterdam lost another $72 for a 40-foot box this week to reach $1,325.
Similarly, the rates from Shanghai to Los Angeles dropped by $25 to reach $1,439 per FEU, and the rates on Shanghai-New York declined by another $21 to reach $1,960 per 40-foot box.
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Meanwhile, the rates on Rotterdam-New York surged to $2,003, an increase of $120.
Drewry stated: “We expect the rates on routes originating from Asia to decline again next week, following a week-long holiday in China.”
View Drewry’s latest freight rate assessments on eight major East-West trades: