Drewry  Says World Container Index Up by 0.7%       

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

The composite index is up 0.7% this week, similarly, 20.5% up as compared with same period of 2018.

The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,750/40ft container, which is $244 higher than the five-year average of $ 1,507/40ft container.

Headhaul rates pulled up Drewry’s composite World Container Index (WCI) by 0.7% or $13 to $1,765.58 per 40ft container. Freight rates on Shanghai-New York increased $135 to $3,380 for a 40ft box. Similarly, rates from Shanghai to Rotterdam grew $104 to $1,943 per feu.

Conversely freight rates on Shanghai-Los Angeles decreased $77 to reach $2,197 for a 40ft container. We expect carriers to attempt rate hike before Chinese New Year.