News
The Intra-Asia Container Index (IACI) climbed 45% in the first two weeks of November, from $573 per 40ft container in the period 16-30 October to $829 in the period 1-15 November, amid the pre-Christmas cargo rush, Drewry unveiled last week. Drewry expects this uptrend to continue in the next fortnight of November due to tight space, traditional shipping peak season, blank sailings and other factors.
Looking at freight rate fluctuations in the first two weeks of November, rates from Busan to Shanghai were up 19% to $126 per FEU; from Ho Chi Minh City to Shanghai, unchanged at $53 per FEU; from Jakarta to Shanghai, up 73% to $187 per FEU; from Shanghai to Jawaharlal Nehru, up 44% to $1,683 per FEU; from Shanghai to Singapore, up 51% to $1,096 per FEU; from Shanghai to Tanjung Pelepas, up 17% to $1,245 per FEU; from Shanghai to Yokohama, up 9% to $1,096 per FEU; and from Yokohama to Shanghai, down 400% to minus$3 per FEU.
The IACI reports actual spot container freight rates for major intra-Asia trade routes. The Index, which will be updated fortnightly, consists of 18 route-specific indices representing individual shipping routes to and from China; three Northeast Asian economies (Japan, South Korea and Taiwan); five Southeast Asian nations (Indonesia, Malaysia, the Philippines, Thailand and Vietnam; two South and West Asian countries (India and the United Arab Emirates, or UAE) and others and a composite index. All indices are reported in the U.S. dollar per 40-foot container.
