DREWRY'S World Container Index (WCI) increased 8% to $2,123 per 40ft container, mainly due to a sharp rise in rates on the Asia–Europe route, alongside gains on the Transpacific route. Notably, while double-digit growth was observed on the Transpacific route last week, the Asia–Europe route recorded a double-digit increase this week.
Source: Drewry World Container Index
Spot rates on the Shanghai–Rotterdam trade route increased 19% to $2,443 per 40ft container and those on Shanghai–Genoa increased 10% to $3,120 per 40ft container. According to Drewry’s Container Capacity Insight, only five blank sailings have been announced on the Asia–Europe trade route next week. Meanwhile, several carriers such as MSC and CMA CGM have announced higher FAK rates effective 22 March. As carriers continue to manage capacity while implementing rate increases, Drewry expects spot rates to rise further in the coming weeks.
Source: Drewry World Container Index
Spot rates from Shanghai to Los Angeles increased 4% to $2,503 per 40ft container, while those from Shanghai to New York increased 3% to $3,080 per 40ft container. According to Drewry’s Container Capacity Insight, seven blank sailings have been announced for the next week on the Transpacific East and West Coast trade routes. Meanwhile, the ongoing Middle East conflict continues to affect global supply chains, supporting higher freight rates in the short term. Drewry thus expects spot rates on this trade to increase in the coming weeks.