MARITIME research consultancy Drewry’s composite World Container index increased 2.9% or $291 this week, and also, remains 323% higher than a year ago.

This is the 22nd consecutive week of increases.

The average composite index of the WCI, assessed by Drewry for year-to-date, is $6794 per 40-foot container, which is $4432 higher than the five-year average of $2362 per 40-foot container.

Freight rates on Shanghai to Los Angeles and Shanghai to New York surged 7% each; $855 to reach $12,424 and $1014 to reach $16,138 per 40-foot container respectively.

Similarly, spot rates from New York to Rotterdam gained 2% or $18 to $1198 per FEU.

Rates on Shanghai to Rotterdam, Rotterdam to Shanghai, Shanghai to Genoa, Los Angeles to Shanghai and Rotterdam to New York remain stable at previous weeks level.

Drewry expects rates to increase further in the coming week.