World Container Index Up 8.8% This Week
The composite index increased 8.8% this week and 40.3% up when compared with same period of 2019.
The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,618 per 40ft container, which is $229 higher than the five-year average of $1,389 per 40ft container.
Drewry’s composite World Container index increased by 8.8% or $151 to $1,865.99 per 40ft container. Spot rates on the transpacific routes continue to escalate for last four weeks. Rates on Shanghai – Los Angeles and Shanghai – New York soared by 24% and 18% respectively – a change of $506 and $486 to reach $2,650 and $3,207 per 40ft box. Similarly, rates on Rotterdam – New York nudged up by 7% or $179 to reach $2,577 and rates on New York – Rotterdam gained 2% to $518 per feu. Rates on Rotterdam – Shanghai spiked 10% or $114 to reach $1,221 per 40ft container. Conversely, rates from Shanghai – Rotterdam and Shanghai – Genoa dipped 7% and 1% to reach $1,650 and $1,789 for 40ft box respectively. However, rates on Los Angeles – Shanghai remained stable at $522 per feu. Drewry expects rates to increase slightly in the coming week.
© 2019 Worldfreightrates News