DREWRY’S composite World Container Index increased 2.1%, or US$204 to US$9817.72 per 40-foot container.

The average composite index of the WCI, assessed by Drewry for year-to-date, is US$6498 per 40-foot container, which is US$4238 higher than the five-year average of US$2260 per 40-foot container.

This week’s increase brings the index 351% higher than the same week in 2020. It was the 19th consecutive week of increases on the index.

Drewry reports freight rates on eastbound trans-Pacific lanes surged 4% or US$393 to US$11,362 from Shanghai to Los Angeles and 5% or US$631 to US$14,136 from Shanghai to New York per 40-foot container.

“Spot rates on Shanghai to Genoa gained US$203 to reach US$13,464 for a 40-foot box, a change of 594% year on year. Similarly, rates on Los Angeles to Shanghai grew 3% or US$40 to US$1398 per FEU,” Drewry’s report said.

“Freight rates on Shanghai to Rotterdam gained US$89 to reach US$13,787 for a 40-foot box. However, rates from New York to Rotterdam dropped 1% or US$12 to reach US$1,142 per feu. Freight rates on Rotterdam to New York and Rotterdam to Shanghai remain stable at previous weeks level. Drewry expects rates to increase further in the coming week.”