THE WORLD Container Index increased again this past week, up 7% to US$3444 per 40-foot container on 7 November.
The composite index, published weekly by Drewry, is now 67% below the previous pandemic peak of US$10,377 in September 2021, but 142% more than the average US$1,420 in 2019 (pre-pandemic).
The average year-to-date composite index is US$4005 per feu, which is US$1162 higher than the 10-year average of US$2843 (inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to Genoa jumped 21% or US$751 to US$4399 per FEU and those from Shanghai to Rotterdam surged 16% or US$558 to US$3954 per FEU.
Similarly, rates from New York to Rotterdam increased 3% or US$25 to US$785 per FEU.
On the other hand, rates from Rotterdam to Shanghai decreased 3% or US$19 to US$524 per FEU while those from Rotterdam to New York fell 2% or US$40 to US$2624 per FEU and those from Shanghai to Los Angeles dipped 1% or US$33 to US$4806 per FEU.
Meanwhile, rates from Los Angeles to Shanghai and Shanghai to New York remained stable.
Spot rates on the Asia-Europe trade lane increased for the second consecutive week, and Drewry said it expects this uptrend to continue next week as well.
