DREWRY’S composite World Container Index increased 16% to US$3159 per 40-foot container this week.

The latest index is an 81% increase compared with the same week last year and a 122% increase compared with average 2019 (pre-pandemic) rates of US$1420.

The average composite index for the year-to-date is US$3227 per 40-foot container, which is US$512 higher than the 10-year average rate of US$2714.

Freight rates from Shanghai to Rotterdam increased 20% or US$606 to US$3709 per 40-foot container.

Similarly, rates from Shanghai to Los Angeles surged 18% or US$617 to US$3988 per FEU.

Likewise, rates from Shanghai to Genoa and Shanghai to New York spiked 16% to US$4295 and US$5089 per 40-foot box respectively.

Moreover, rates from New York to Rotterdam inched up 1% or US$4 to US$629 per container.

Conversely, rates from Rotterdam to New York decreased 2% or US$50 to US$2160 per 40-foot box.

Likewise, rates from Rotterdam to Shanghai declined 6% or US$44 to US$695 per FEU, while rates from Los Angeles to Shanghai remained stable.

Drewry expects freight rates ex-China to continue increasing in the upcoming week amid a huge demand spike and tight capacity.