World Container Index takes a dip

JULY 20, 2017 — The Drewry World Container Index is down by 6.3% to $1421.4/40 ft container this week, but up by 15% from the same period of 2016. .

The index is a composite of container freight rates on eight major routes to/from the U.S., Europe and Asia.

The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,546/40ft container, which is $120 lower than the five-year average of $1,666/40ft container.

Despite peak season cargo surge, the spot rates dropped unexpectedly on the Shanghai-Rotterdam route, which fell by $160 to $1,705 for a 40ft box this week. More rate hikes and prudent supply management by containership lines during the peak season should lift rates from August, says Drewry. On the other hand, a slow start to the peak season is weighing down the Transpacific eastbound rates. The spot rates from Shanghai to New York lost $183 to reach $2,202 for a 40ft box and the rates from Shanghai to Los Angeles dropped by $71 to $1,242.