DREWRY’S World Container Index increased by 8% to US$2233 per 40-foot container this week, 78% below the previous pandemic peak of US$10,377 in September 2021.
However, Drewry said the index was 57% higher than the average US$1420 in 2019 (pre-pandemic).
The average YTD composite index closed at US$2746 per 40-foot container, US$151 lower than the 10-year average of US$2896 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to New York surged 19% or US$704 to US$4350 per 40-foot container and those from Shanghai to Los Angeles shot up 16% or US$423 to US$3136 per 40-foot container, whereas rates from New York to Rotterdam increased a marginal 1% or US$10 to US$824 per 40-foot container.
On the other hand, rates from Shanghai to Rotterdam, Shanghai to Genoa and Rotterdam to New York decreased 1% to US$2035, US$2742 and US$1961 per 40-foot container, respectively, while those from Rotterdam to Shanghai and Los Angeles to Shanghai remained stable.
Following the latest US–China trade developments, Drewry said it expects an increase in Transpacific spot rates in the coming week due to shortage in capacity.