Drewry: World Container Index dips 0.2%

The World Container Index slipped 0.2 percent this week to $1,407.58 per 40-foot container, and is also down by 21.5 percent from the corresponding period in 2017.    The World Container Index (WCI) – a composite of container freight rates on eight major routes to and from the United States, Europe and Asia – is down by 0.2 percent this week to $1,407.58 per 40-foot container (FEU), according to the latest assessment by London-based shipping research and consulting firm Drewry.
   In addition to the composite index being down by 0.2 percent this week, it is also down 21.5 percent from the same period in 2017.
   The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,409 per FEU, which is $175 lower than the five-year average of $1,584 per FEU.
   The consultancy’s statistics show that freight rates on the Shanghai-Los Angeles trade fell by $60 this week to $1,411 per FEU, while rates on the Shanghai-New York trade dropped by $13 this week to $2,440 per FEU.
   However, rates on the Shanghai-Genoa route gained $21 from last week, reaching $1,427 per FEU. Similarly, rates on the Shanghai-Rotterdam trade increased by $41 from last week, reaching $1,726 per FEU.
   “We expect the spot rates to increase next week on the back of the proposed GRIs (general rate increases),” Drewry said.