24.10.18IACI Falls 15% to $500/TEU in 1st 2 Weeks of Oct.

The Intra-Asia Container Index (IACI), a weighted average of regional spot container freight rates, decreased 15% to a seven-month low of $500 per FEU in the first two weeks of this month, as spot rates on some intra-Asia routes plunged more than 30% in the two weeks, Drewry Maritime Research announced on Tuesday.

The IACI is the weighted average of spot rates on 18 major lanes within Asia that do not include terminal handling charges (THCs), which include those to and from four Northeast Asian nations (Japan, China, South Korea and Taiwan), five Southeast Asian nations (Indonesia, Malaysia, the Philippines, Thailand and Vietnam) and two Southwest Asian nations (India and the United Arab Emirates). The index is unveiled every two weeks.