DREWRY’S composite World Container Index has increased for the first time in 15 weeks.
The WCI increased by 4% to US$1774 per 40-foot container.
However, the index is 77% lower than it was in the same week last year and 83% below the peak of US$10,377 reached in September 2021.
It is now 34% lower than the 10-year average of US$2688, indicating a return to more normal prices, but remains 25% higher than average 2019 (pre-pandemic) rates of US$1420.
Drewry said trans-Pacific eastbound rates rose, reflecting the general rate increases implemented by carriers from mid-April.
Freight rates on Shanghai – New York gained 12% or US$297 to US$2849 per FEU.
Rates on Shanghai – Los Angeles surged 11% or US$182 to settle at US$1856 per 40-foot box.
And rates on Shanghai – Genoa inched up by 1% to US$2268 per 40-foot container.
However, rates on New York – Rotterdam fell 5% to US$969 per FEU.
Rates on Rotterdam – Shanghai and Los Angeles – Shanghai dropped 4% each to US$618 and US$1009 per 40-foot box, respectively.
Rates on Rotterdam – New York have now decreased for 19 consecutive weeks and saw a weekly drop of 1% to US$4881 per 40-foot container.
Rates on Shanghai – Rotterdam hovered around the previous week’s level.
Drewry expects east-west spot rates on routes other than the trans-Atlantic to rise in the next few weeks.
