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Average spot rates on most Intra-Asia container trade lanes weakened again in the first two weeks of September, according to Drewry’s Inter-Asia Container Index
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The IACI, a weighted average of spot container freight rates, fell 25% to $668 per 40-foot container in the first two weeks of September
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It has also shrunk 35% since its recent peak of $1,025 in the second fortnight of July
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The newly launched IACI, similar to Drewry’s World Container Index, is an open-access resource allowing shipping stakeholders to follow the pulse of one of the world’s most important container shipping markets
Average spot rates on most Intra-Asia container trade lanes weakened again in the first two weeks of September, according to Drewry’s newly-launched Intra-Asia Container Index (IACI).
The IACI, a weighted average of spot container freight rates, fell 25% to $668 per 40-foot container in the past fortnight, and has shrunk 35% since its recent peak of $1,025 in the second fortnight of July.
Similar to Drewry’s World Container Index (WCI), the IACI is an open-access resource allowing shipping stakeholders to follow the pulse of one of the world’s most important container shipping markets.
Philip Damas, head of Supply Chain Advisors and managing director of Drewry, said in a statement: “As growth in container shipping shifts from inter-continental to intra-regional trades, monitoring these trades is now far more important than was the case 13 years ago, when we launched the WCI.”
IACI is a volume-weighted index of spot container freight rates on 18 large Intra-Asia trade lanes to and from China, three North/East Asian countries (Japan, South Korea and Taiwan), five South East Asian countries (Indonesia, Malaysia, Philippines, Thailand and Vietnam) and two South/West Asia countries (India and the United Arab Emirates).
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 will be published every two weeks on the Drewry website with indices for eight featured regional trade routes accessible by registered website users.
