THE DREWRY World Container Index increased by 6% this past week, reaching US$1461 per 40-foot container.

The composite index has dropped by 32% when compared with the same week last year.

The latest index of is now 3% more than average 2019 (pre-pandemic) rates of US$1420.

The average composite index for the year to date is US$1677 per 40-foot container, which is US$995 lower than the 10-year average rate of US$2672 (which was inflated by the exceptional 2020-22 covid period).

Freight rates on Shanghai to Rotterdam and Shanghai to Genoa increased by 15% to US$1343 and US$1,608 per FEU respectively.

Likewise, rates on Shanghai to New York increased by 7% or US$184 to US$2747 per 40-foot container.

Similarly, rates on Los Angeles to Shanghai and Rotterdam to New York increased by 1% to US$753 and US$1505 per 40-foot box respectively.

While rates on Rotterdam to Shanghai decreased by 5% to US$443 per FEU.

Likewise, rates on Shanghai to Los Angeles decreased by 2% or US$32 to US$1939 per 40-foot box.

Rates on New York to Rotterdam remain stable.

Drewry anticipates East-West spot rates on lanes to remain close to current levels, overall, in the upcoming weeks.

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