World Container Index – 14 Sept
The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, is down by 2% to US$1401.60/40ft container [updated Thurs, 14 Sep 17].
Two-year spot freight rate trend for the World Container Index:
World Container Index: Drewry assessment on Thursday, 14 September 2017
- The composite index is down by 2% this week and down by 5% from the same period of 2016.
- The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,536/40ft container, which is $100 lower than the five-year average of $1,636/40ft container. It is also 5% lower than a year ago.
- The pre-Golden Week holiday volume spike is bleak this year as the Chinese government’s crackdown on polluting factories led to massive closures. The less-than-expected demand has already watered down the GRIs in September. The World Container Index (WCI) between Shanghai and Rotterdam lost another $63 for a 40ft box this week to reach $1,535. While the slump in rates from Shanghai to Los Angeles was minimal at $6 to reach $1,485 per feu, rates on Shanghai-New York declined by $128 to $2,172 per 40ft box. No upturn in rates is in sight for the rest of the month.
View our latest freight rate assessments on eight major East-West trades: