THE DREWRY World Container Index increased by 23% to US$3777 per 40-foot container this past week.

The composite index has increased by 82% when compared with the same week last year.

The latest WCI is the highest since October 2022 and is 166% more than average 2019 (pre-pandemic) rates of US$1420.

Source: Drewry

The average composite index for the year to date is US$3173 per 40-foot container, which is US$495 higher than the 10-year average rate of US$2678 (which was inflated by the exceptional 2020-22 covid period).

Freight rates on Rotterdam to Shanghai increased by 50% or US$323 to US$975 per 40-foot container.

Followed by rates on Shanghai to Los Angeles which rose by 38% or US$1070 to US$3860 per FEU.

Also, rates on Shanghai to New York swelled by 35% or US$1474 to US$5644 per 40-foot box.

Likewise, rates on Shanghai to Genoa grew by 21% or US$1069 to US$6282 per FEU.

Followed by rates on Shanghai to Rotterdam which enlarged by 12% or US$545 to US$4951 per 40-foot box.

Likewise, rates on New York to Rotterdam surged by 2%, or US$9, to US$608 per 40-foot container.

Conversely, rates on Los Angeles to Shanghai decreased by 1%, or US$4, to US$762 per FEU.

Rates on Rotterdam to New York remained stable. Drewry anticipates East-West spot rates to increase in the coming weeks, due to the Red Sea/Suez situation.

The Drewry WCI measures ocean freight rate movements of 40-foot containers in seven significant maritime trade lanes.