The DREWRY World Container Index (WCI) increased 3% to $2,286 per 40ft container after three consecutive weekly declines, driven by higher freight rates on Transpacific and Asia–Europe trade lanes.
Source: Drewry World Container Index
On the Transpacific trade route, rates increased this week following the implementation of Emergency Fuel Surcharges (EFS) and Peak Season Surcharges (PSS) by carriers. Rates from Shanghai to New York rose 7% to $3,721 per 40ft container, while those from Shanghai to Los Angeles increased 5% at $3,062 per 40ft container. MSC raised EFS on the Asia–USEC route from $430 to $644 per 40ft container and on the Asia–USWC route from $272 to $467 per 40ft container, while CMA CGM introduced a PSS of $2,000 per 40ft container, effective 1 May. Drewry expects freight rates to increase next week.
Source: Drewry World Container Index
Spot rates on the Asia–Europe trade route remained stable this week. Rates from Shanghai to Rotterdam increased 2% to $2,170 per 40ft container, while those to Genoa edged up 1% to $3,075 per 40ft container. CMA CGM, Hapag-Lloyd and MSC have announced FAK rates ranging between $3,500 and $4,500 per 40ft container for Asia–North Europe and between $4,500 and $4,600 per 40ft container for Asia–Mediterranean, effective 15 May. However, successful implementation remains unlikely due to weak demand and excess capacity, which continue to create a supply–demand imbalance. Carriers continue to manage excess capacity through blank sailings and capacity reductions, with effective capacity expected to decline 3% MoM on Asia–North Europe and 10% MoM on Asia–Med in May. Drewry expects rates to remain stable next week.
Middle East tensions around the Strait of Hormuz remain under watch, with carriers staying cautious on routing and operations. Carriers are also actively adjusting pricing through EFS, PSS and firmer FAK levels, keeping the market reactive despite stable vessel movement.