DREWRY's composite World Container Index decreased 10 per cent to US$4,014.10 per FEU last week, the 31st consecutive weekly decrease, as well as posting 61 per cent drop year on year, reports Hellenic Shipping News Worldwide.
The latest Drewry WCI remains eight per cent higher than the five-year average of $3,714.The average composite index for the year-to-date is $7,597 per FEU, which is $3,884 higher than the five-year average, that's the $3,714 mentioned above.
Freight rates on the Shanghai-Genoa run dropped 19 per cent or $1,203 to $5,216 per FEU. Spot rates on the Shanghai-Los Angeles run fell 13 per cent or $496 to $3,283 per FEU.
Rates on Shanghai - Rotterdam and Shanghai - New York runs dipped 10 per cent and five per cent to $5,441 and $7,278 per FEU respectively. However, rates from Rotterdam - New York gained four per cent or $301 to $7,038 per FEU.
Rates on Rotterdam - Shanghai, Los Angeles - Shanghai and New York - Rotterdam hovered around the previous week's level. Drewry expects the index to decrease in the next few weeks.
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