Average spot rates on most Intra-Asia container trade lanes weakened again in the first two weeks of September, according to Drewry’s new Intra-Asia Container Index (IACI), launched today, reports Drewry.
Intra-Asia Container Index
Drewry’s new composite Intra-Asia Container Index (IACI), a weighted average of spot container freight rates, decreased 25% to $668 per 40ft container in the past fortnight and has fallen back 35% since its recent peak of $1,025 in the second fortnight of July.
Much like Drewry’s World Container Index (WCI), one of the most followed industry indices for East-West trade lane spot rates, IACI will be an open-access resource allowing shipping stakeholders to follow the pulse of one of the world’s most important container shipping markets.
IACI is a volume-weighted index of spot container freight rates on 18 large Intra-Asia trade lanes to and from China, 3 North/East Asian countries (Japan, South Korea, and Taiwan), 5 South East Asian countries (Indonesia, Malaysia, Philippines, Thailand, and Vietnam) and 2 South/West Asia countries (India and the United Arab Emirates).
The new index will be published every 2 weeks on the Drewry website with indices for eight featured regional trade routes accessible by registered website users.
Drewry has noted increasing volatility in Intra-Asia spot rates over recent years, with rates rising strongly this summer and now correcting downwards sharply with softening regional demand.
IACI is the first of several Intra-Asia container market intelligence resources and tools to be launched by Drewry’s offices in Asia. In early October, Drewry will launch a new, online Intra-Asia Container Market Insight annual subscription service priced at $2,275. The service will be available on the Drewry OnDemand platform.
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Source: Drewry
