The composite index increased 3% this week and, but 19.5% down as compared with same period of 2018, according to Drewry.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,417 per 40ft container, which is $12 higher than the five-year average of $1,406 per 40ft container.
Drewry’s composite World Container Index continue the upward movement and increased by 3% or $42 to $1447.82 per 40ft container. Freight rates from Shanghai to New York spiked $113 and reached $2639 for a 40ft box. Also, rates on Shanghai-Rotterdam nudged up by $92 and stood at $1652 per FEU.
Rates on Shanghai-Genoa and Shanghai-Los Angeles showed a marginal increase and reached $1635 and $1591 per 40ft container respectively.
Transpacific eastbound rates are likely to go up in coming weeks, with shippers bringing forward cargo movements to avoid tariffs scheduled to be imposed on 15 December.