Drewry’s World Container Index increased 2% to USUS$2208 per 40ft container this week, 79% below the previous pandemic peak of US$10,377 in September 2021.
However, the index was 55% higher than the average US$1420 in 2019 (pre-pandemic).
The average YTD composite index closed at US$2993 per 40ft container, US$105 higher than the 10-year average of US$2887 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Los Angeles increased 10% or US$239 to US$2726 per 40ft container and those from Shanghai to New York increased 8% or US$272 to US$3894 per 40ft container.
Conversely, spot rates from Rotterdam to Shanghai decreased 7% or US$34 to US$466 per 40ft container and those from Shanghai to Genoa fell 4% or US$140 to US$3,031 per 40ft container.
Rates from Shanghai to Rotterdam decreased 3% or US$66 to US$2304 per 40ft container, while those from New York to Rotterdam and Rotterdam to New York decreased 2% to US$831 and US$2124 per 40ft container, respectively.
Rates from Los Angeles to Shanghai reduced 1% or US$4 to US$705 per 40ft container.
The Transpacific trade lane witnessed a reversal of its months-long WoW trend of declining spot rates due to the recent sailing cancellations.
The imposition of tariffs, announced by Trump yesterday, is anticipated to introduce greater volatility to these spot rates.
