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The World Container Index of maritime consultancy Drewry, dealing with container freight rates on eight major routes to/from the US, Europe and Asia, is up by 0.8% to $1,157.21 per FEU.

The composite index is up by 0.8% this week and down by 19.57% from the same period of 2016. T[ds_preview]he average composite index of the WCI for year-to-date is $1,473/40 FEU. This is $124 lower than the five-year average of $1,597 the recent report says. It is also 19.57% lower than a year ago.

Two-year spot freight rate trend for the World Container Index:

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According to Drewry, rate hikes during the first week of December strengthened rates on the Asia-Europe and Transpacific routes. The WCI for the Shanghai-Rotterdam route surged by $103 from last week, to reach $1,407. Rates are 22% weaker than in the same period in 2016. Rates on Shanghai-Los Angeles slid by $48.

»Meanwhile, rates on Shanghai-New York gained $60 to reach $1,880 per feu. Rates on Shanghai-Los Angeles are 26% and those on Shanghai-New York are 23% lesser than in the same period in 2016. We expect the increase on these routes to be momentary, and will follow a downward trajectory next week«, the consultancy explained.

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