DREWRY’S World Container Index has seen another increase, rising by 2% to US$2276 per 40-foot container this week.
The Drewry WCI composite index increased 2% to US$2276 per 40-foot container, 78% below the previous pandemic peak of US$10,377 in September 2021.
However, Drewry said the index was 60% higher than the average US$1420 in 2019 (pre-pandemic).
The average YTD composite index closed at US$2723 per 40-foot container, US$174 lower than the 10-year average of US$2897 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Genoa and Shanghai to New York rose 4% to US$2841 and US$4527 per 40-foot container and those from Shanghai to Los Angeles increased 2% or US$61 to US$3197 per 40-foot container.
Following the trend, rates from Los Angeles to Shanghai increased a marginal 1% or US$4 to US$713 per 40-foot container.
On the other hand, rates from Shanghai to Rotterdam, Rotterdam to Shanghai, Rotterdam to New York, and New York to Rotterdam remained stable.
Following the latest US-China trade developments, Drewry expects an increase in spot rates in the coming week as carriers are reorganising their capacity to accommodate a higher volume of cargo bookings from China.