MARITIME consulting firm Drewry’s composite World Container Index has increased 4.7% or $397 to $8,795.77 per 40ft container over the past week. It also remains 333% higher that the same week in 2020.

The average composite index of the WCI, assessed by Drewry for the year-to-date, is $5,760 per 40ft container, which is $3,716 higher than the five-year average of $2,044 per 40ft container.

Freight rates from Shanghai – Genoa and Shanghai – Rotterdam increased $852 to $592 to reach $12,626 and $12,795 per FEU respectively, a year-on-year change of 514% and 596%.

Spot rates on Rotterdam – New York grew 7% or $328 to stand at $5,336 per 40ft box.

Similarly, spot rates on Shanghai – Los Angeles soared $466 to stand at $9,631 for a 40ft container, which is 229% higher than same period in 2020.

Likewise, rates on both Rotterdam – Shanghai and Los Angeles – Shanghai grew 3% to $1,740 and $1,326 per FEU, respectively.

Drewry expects rates to increase further in the coming week.