After a 13 % jump the World Container Index is down by 3.6 % this week and up by 43% from the same period of 2016. Spot rates on the Asia-Europe trade continue to tumble.
The composite index of container freight rates on 8 major routes to/from the US, Europe and Asia, is down b[ds_preview]y 3.6 % to 1500.87 $ per 40 ft container. Two weeks ago, the index assessed by shipping consultancy Drewry stood at 1,612.83 $ per FEU (up 13 %).
The average composite index of the World Container Index for the year to date is 1,587 $ per FEU container, 118 $ lower than the 5-year average of 1,705 $ per 40ft container. It is 43 % higher than a year ago.
The spot rates on the Asia-Europe trade continue to tumble, and as a result, the World Container Index on Shanghai to Rotterdam declined by 3% or 58 $ to 1,811 $ for a 40 ft box. Similarly, GRIs on the Transpacific trade are also losing ground, but at a slower pace. This week, the WCI on Shanghai-Los Angeles and Shanghai-New York fell by another 9 % and 3 % respectively.
