Drewry: World Container Index Down by 4.4% on Week
The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, is down by 4.4% to US$1456.20/40ft container [updated Thurs, 13 Apr 17].
Two-year spot freight rate trend for the World Container Index:
World Container Index assessed by Drewry 13 Apr 17
Drewry assessment: Thursday, 13 April 2017The composite index is down by 4.4% this week and it is up by 75% from the same period of 2016. The average composite index of the World Container Index assessed by Drewry for the year to date is US$1,613/40ft container, $112 lower than the 5-year average of $1,725/40ft container. Rates from Asia to Europe have declined by around 7% this week, indicating that carriers have not been able to sustain fully the gains experienced from the 1 April GRIs. Similarly, rates from Asia to the US West Coast have decreased by $34/40ft box. We expect rates from Asia to the US East Coast to increase next week on the back of the planned 15 April GRI of $200/ 40ft. After a sudden surge last week, rates on the Europe-to-Asia route continued to increase this week, but with only a $13/40ft uptick.
Spot freight rates by route – assessed by Drewry