DREWRY’S World Container Index increased by 16% to US$4072 per 40-foot container this week.

The index posted an increase of 142% when compared with the same week in 2023.

The latest WCI composite index of US$4072 per 40-foot container is 187% more than the average 2019 (pre-pandemic) rates of US$1420.

The average composite index for the year-to-date is US$3280 per 40-foot container, which is US$559 higher than the 10-year average rate of US$2717 (which was inflated by the exceptional 2020-22 covid period).

Freight rates from Shanghai to Rotterdam increased 20% or US$827 to US$4999 per 40-foot container.

Likewise, rates from Shanghai to Los Angeles increased 18% or US$801 to US$5277 per FEU.

Moreover, rates from Shanghai to Genoa climbed 15% or US$718 to US$5494 per 40-foot box.

Correspondingly, rates from Shanghai to New York surged 13% or US$746 to US$6463 per 40-foot container.

Additionally, Rotterdam to New York rates increased 1% or US$32 to US$2241 per FEU, while rates from Rotterdam to Shanghai decreased 1% or US$6 to US$673.

Rates from Los Angeles to Shanghai and New York to Rotterdam remain stable, and Drewry expects the spike in spot freight rates to lessen in the next few months.