World Container Index (WCI) is on the rise

Price explosion in container liner shipping business on Asia-Europe trade

Container freight rates in the westbound Asia-Europe corridor increased by 114 per cent last week. This was the result of a container freight rate assessment by the World Container Index (WCI), a joint venture between the Drewry consulting enterprise and the electronic marketplace The Cleartrade Exchange.

Carriers in the key Asia-Europe trade had previously announced rate increases in the region of USD 700 to USD 800 per TEU (or USD 1,400 to USD 1,600 per 40ft container) from 1st March. The World Container Index’s Shanghai-Rotterdam container freight rate sub-index went from USD 1,276 per 40ft container on 23 February to USD 2,732/40ft on 1 March, a rise of USD1,456.

According to the statements of Philip Damas, director, at Drewry, it remains to be seen whether these rate increases will stay or erode over time. He prognosticates a ´soon reduction of spot rates, although container shipping lines have withdrawn enough capacity from the Asia-Europe trade to achieve some net rate increases over a certain period of time.

Quelle: LogEastics
Portal: www.logistik-express.com