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The World Container Index assessed by Drewry, a composite of container freight rates on eight major routes to/from the US, Europe and Asia, fell this week. Spot rates from Europe to Asia have decreased.

It now stands at 1426.7 $ per 40 ft container. Even though the composite in[ds_preview]dex is down by 1.6% this week, it is up by 89 % from the same period of 2016.

The average composite index of the World Container Index assessed by Drewry for the year to date is 1,592 $ per 40 ft container, 125 $ lower than the five-year average of 1,717 $ per 40 ft container. It is also double the price of a year ago.

World Container Index assessed by Drewry 27 Apr 17
World Container Index assessed by Drewry 27 Apr 17 (Source: Drewry)

Spot rates from Europe to Asia have decreased by 10 % this week, representing the decline after four consecutive week of price rise. The rates from Asia to Europe have increased by 1 % this week. Drewry expects them to rise more at the back of 1 May GRI’s.

Spot freight rates by route assessed by Drewry 27 Apr 17
Spot freight rates by route – assessed by Drewry (Source: Drewry)