Drewry: Container rates down

LONDON – The World Container Index for this week from supply chain research and consulting firm Drewry – a composite of container freight spot rates on eight major routes to and from the U.S., Europe and Asia – is down by 2.1%.

The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,551 per 40-foot container, which is $120 lower than the five-year average of $1,671 per 40-foot container. It is also 13% higher than a year ago.

Spot rates on the Shanghai-Rotterdam route fell by $71 to $1,865 for a 40-foot box this week. The rate volatility decreased largely as the weekly decline for the same period in 2016 was $232.

Similarly, overcapacity and a slow start to the peak season dragged down the trans-Pacific eastbound rates. The spot rates from Shanghai to New York lost $20 to reach $2,385 for a 40-foot box, and the rates from Shanghai to Los Angeles dropped by $77 to $1,313.

Drewry expects the deferral of general rate increases on the Transpacific trade to result in further rate decline next week while the Asia-Europe market is expected to remain strong.

Furniture Today Staff | Staff Editors

Furniture Today covers all the news concerning manufacturers, retailers and suppliers in the home furnishings sector.