World Container Index: Drewry assessment on Thursday, 09 November 2017

• The composite index is down by 9.4% this week and down by 9% from the same period of 2016.
• The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,499/40ft container, which is $111 lower than the five-year average of $1,610/40ft container. It is also 9% lower than a year ago.
• Rate gains during the first week of November – on routes originating from Asia – waned towards the second week. The World Container Index between Shanghai and Rotterdam lost $157 from the previous week to reach $1,559 for a 40ft box. Rates are now 9% less than in the same period in 2016. Rates on the Transpacific route also followed a downward trajectory this week. The WCI between Shanghai and Los Angeles softened by 5% or $77 from the previous week to $1,557 per feu. Rates on this route are 20% weaker than in the same period in 2016. Meanwhile, the decline was higher on the Shanghai-New York route, where rates diminished by $290 or 12% from the first week of this month to reach $2,114 per feu. As carriers are poised to shelve their 15 November GRIs, rates are expected to head south next week.

View our latest freight rate assessments on eight major East-West trades:

Spot freight rates by route – assessed by Drewry