CORRECTION: WCI provides insight into U.S. export trades

   An item in Monday’s AS Daily about container freight derivative tools for U.S. export markets failed to note that the World Container Index, developed by London-based Drewry and Singapore-based Cleartrade Exchange, does provide insight into U.S. export trades. WCI tracks the trades from Los Angeles to Shanghai, Los Angeles to Rotterdam, and New York to Rotterdam. The index purports to have insight into 53 percent of Los Angeles-Shanghai volume, 70 percent of Los Angeles-Rotterdam volume, and 79 percent of New York-Rotterdam volume, based on 2011 volumes. The index collects, on average, more than 25 market assessments per route per week, with a minimum of 16 per week required.