Maritime container rates continue volatile churn, Drewry says
Container freight rates post 4.9 percent rise this week, but remain far below recent highs.
Maritime container shipping rates rose slightly last week but still remain far below their high points in the second half of 2018, according to a report from the U.K. shipping consultancy Drewry Shipping Consultants Ltd.
The World Container Index, a composite of container freight rates on eight major routes to and from the U.S., Europe, and Asia, is up 4.9 percent to $1,373.28 per 40-foot container this week, Drewry said today.
Spot freight rates have been volatile in the maritime sector in recent months. A chart showing the two-year trend for Drewry's World Container Index shows that the same index hovered near highs of $1,800 between August 2018 and January 2019, but had sunk to lows below $1,200 between January and April last year.
The maritime container shipping market will likely continue to face disruption in 2019 as markets struggle with factors like the ongoing U.S.-China trade war, escalating geo-political tension in many regions of the world, and an industry grappling with challenging new emission regulations, Drewry said in a recent report.
The composite index increased 4.9% this week but is 7.6% down compared with same period of 2018. Freight rates from Shanghai-New York rose by 6% or $167 to touch $2,823 per 40ft container. View our detailed assessment: https://t.co/6p2hMDY2cV pic.twitter.com/41qDBmnlWt— Drewry (@DrewryShipping) July 18, 2019
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