Spot container rates float back up

Drewry’s World Container Index stands at $1,759.86 per FEU, up 4 percent from last week and up 12.6 percent year-over-year.

Spot container rates float back up

Drewry’s World Container Index stands at $1,759.86 per FEU, up 4 percent from last week and up 12.6 percent year-over-year.

Spot container rates float back up

Drewry’s World Container Index stands at $1,759.86 per FEU, up 4 percent from last week and up 12.6 percent year-over-year.

 
Drewry’s World Container Index (WCI) — a composite of container spot rates on eight major routes to and from the United States, Europe and Asia — currently stands at $1,759.86 per FEU, up 4 percent from last week and up 12.6 percent year-over-year. The London-based shipping research and consulting firm said Thursday it expects rates to remain stable for next week.
    This news comes at a great time for carriers, considering second-quarter 2018 financial results are starting to surface, with many prominent carriers posting weaker financial results compared to a year prior, as lower spot rates and higher bunker costs have been top reasons given by the carriers.
    Drewry said Thursday that year-to-date the average composite index of the WCI was $1,415 per FEU, down 7 percent from the corresponding 2017 period.
    Several prominent ocean carriers, including Yang Ming, Evergreen Line, Hyundai Merchant Marine, and Hapag-Lloyd, all recently posted losses for the second quarter of 2018. CMA CGM has yet to release its financial results for the quarter, while A.P. Møller – Maersk, which slashed its full-year 2018 earnings forecast earlier this month, is slated to release its second quarter results tomorrow.

My fear is that we could have another cycle where freight pulled forward and that we have an extremely early peak this year.

The U.S. international trade goods and services deficit was $49.4 billion in February, down $1.8 billion from January's revised figures, according to U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

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Spot container rates float back up

Drewry’s World Container Index stands at $1,759.86 per FEU, up 4 percent from last week and up 12.6 percent year-over-year.

Aug 16, 2018 on Dec 27, 2018AmericanShipper.com

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Spot container rates float back up

Drewry’s World Container Index stands at $1,759.86 per FEU, up 4 percent from last week and up 12.6 percent year-over-year.

Aug 16, 2018 on Dec 27, 2018AmericanShipper.com