DREWRY’S World Container Index inched up 1% again this past week to US$5937 per 40-foot container.
It continues a steady increase that began in May but follows another small 1% increase reported last week.
The composite index has increased 286% when compared with the same week last year.
It is 43% below the previous pandemic peak of US$10,377 in September 2021 but remains 318% higher than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year-to-date is US$3820 per 40-foot container, which is US$1049 higher than the 10-year average rate of US$2770 (inflated by the exceptional 2020-22 covid period).
Freight rates from New York to Rotterdam increased 4% or US$28 to US$710 per FEU.
Likewise, rates from Shanghai to Rotterdam rose 3% or US$219 to US$8267 per 40-foot box.
Similarly, rates from Shanghai to New York spiked 2% or US$225 to US$9612 per 40-foot container.
Rates from Shanghai to Genoa inched up 1% or US$113 to US$7727 per FEU.
Conversely, rates from Shanghai to Los Angeles fell 3% or US$224 to US$7288 per 40-foot box.
Rates from Rotterdam to New York also dropped 1% or US$12 to US$1943 per 40-foot container.
Meanwhile, rates from Rotterdam to Shanghai and Los Angeles to Shanghai remain stable.
Drewry expects ex-China rates to hold steady next week and remain high throughout the peak season.
