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September 05, 2017

World container index shows freight rates easing slightly

The World Container composite index (WCI) assessed by market analyst Drewry was down by 3% last week and up by 9% from the same period of 2016. The Index is a composite of container freight rates on 8 major routes to/from the US, Europe and Asia

The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,543/40ft container, which is $100 lower than the five-year average of $1,643/40ft container. It is also 9% higher than a year ago.

Spot rates on the Asia-Europe and the Transpacific trades declined this week. Rates on the Shanghai-Rotterdam route lost $37 to reach $1,702 per feu.

On the other hand, rates on Shanghai-New York plummeted by $104 to reach $2,473 for a 40ft box, and rates on Shanghai-Los Angeles tanked by $59 to reach $1,561. Since the GRIs, in the initial week of September, have been deferred, the peak season rate growth is expected to be moderate this year.

Source: Drewry