Container rates slip, but composite average up over 2016

Written by Marine Log Staff
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Containership coming into the Port of Rotterdam

MAY 26, 2017—This past week, the World Container Index—a composite of container freight rates on eight major routes to/from the U.S., Europe and Asia—was down by 3.6% to $1,446.81/40ft container, according to shipping consultant Drewry. 

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While the World Container Index did slip by 3.6% this week, it is up by 54% from the same period of 2016. Drewry reports the average composite index of the World Container Index for the year to date is $1,580/40 ft container, $120 lower than the five-year average of $1,701/40 ft container.

Drewry says, “We expect rates to level off next week before heading north on the back of the June 1 GRIs.”The spot rates on the Asia-Europe trade declined further, resulting in the WCI on Shanghai to Rotterdam dropping by 3% or $52 to $1,759 for a 40 ft box. Similarly, the rates on Transpacific also declined; Shanghai-Los Angeles and Shanghai-New York fell by another 11% and 5%, respectively.

As shown in the accompanying table below, overall spot freight rates seem to be well above last year’s rates, except for the New York-Rotterdam and Rotterdam-New York routes.

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