News
The average composite index of the World Container Index (WCI) assessed by Drewry decreased by 3.5% to $1,485.59 per 40ft container last week.
The index for year-to-date was $1,688 per 40ft container, which is $304 higher than the five-year average of $1,384 per 40ft container.
The WCI has been making a continuous descent since the first week of February due to the outbreak of COVID-19 in China.
Spot rates from Shanghai-Rotterdam declined by 4% to $1,746 per 40ft container and similarly 3% to %1,997 on Shanghai-Genoa,
On the transpacific trade, freight rates declined by 10% on Shanghai to Los Angeles trade lane marking the index level at $1327 for a 40ft box and rates from Shanghai-New York weakened 3% to reach $2,661. Drewry expects no upturn in rates until the epidemic can be brought under control.
