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 1.8% to $1511.64/40ft container [updated Thurs, 08 Feb 18].
Two-year spot freight rate trend for the World Container Index:
World Container Index: Drewry assessment on Thursday, 08 February 2018
The composite index is down by 1.8% this week and down by 14.6% from the same period of 2017.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,463/40ft container, which is $110 lower than the five-year average of $1,573/40ft container.
The Composite Index declined by $27 to $1,512 per feu this week as pre-CNY GRIs edged down. Rates on Shanghai-New York fell by $88 per feu to reach $2,856 and rates on Shanghai-Los Angeles dropped by $46 from last week to $1,519 per feu. Rates on Shanghai-Genoa were stable, while rates on Shanghai-Rotterdam shed $41 to reach $1,772 for a 40ft box. Meanwhile, GRIs on Transatlantic trade strengthened rates on Rotterdam-New York by $78 to $2,067 for a 40ft box. We expect freight rates to weaken next week on account of demand downturn during the Chinese Spring Festival.
Importing and managing the logistics of your precious freight is no easy task. Compliance to U.S. Customs & Border Patrol is essential to your cargo clearing customs. Use a freight forwarder to lower your chances of having shipment delays and to oversee all of your international freight logistics. Contact a customs broker to file your ISF and issue any pre-alerts to avoid penalties and delays, and arrange your ocean freight and imports customs clearance.