WCI Plans Expansion of Index Coverage

WCI Plans Expansion of Index Coverage

The World Container Index, which up to now has been  a weekly index of average spot  freight rates on 11 major east-west trade lanes, plans to roll out new indexes covering the north-south trades, especially those with South America. It is also planning to extend coverage to specific rates on specific commodities and offer a premium service plan that will provide more information on the high and low rates collected by carriers. Managing Director Richard Heath talks about how shippers and ocean carriers use the WCI as a becnhmark for adjusting rates under long-term freight contracts of up to five years.