Drewry’s composite World Container Index (WCI) increased marginally by 0.4% or US$41 to US$9,371.30 per 40ft container, according to the latest report on 5 August, remaining 370% higher than a year ago.
The average composite index of the WCI, assessed by Drewry for year-to-date, is US$6,196 per 40ft container, which is US$4,032 higher than the five-year average of US$2,164 per 40ft container.
This is the 16th consecutive week of increases, while freight rates from Rotterdam to New York soared 14% to reach US$6,417 per 40ft container, a change of 190% Y-o-Y, according to Drewry.
At the same time, Drewry, which expects rates to increase further in the coming weeks but at a slower rate, reports that spot rates on Los Angeles to Shanghai and Shanghai to Rotterdam gained 5% and 2% to US$1,479 and US$13,628 respectively for a 40ft box.
However, rates on Shanghai to Los Angeles and Rotterdam to Shanghai fell 3% and 2% to US$10,229 and US$1,670 per FEU respectively, while freight rates on Shanghai to Genoa, Shanghai to New York and New York to Rotterdam remain stable at previous weeks level.
Spot freight rates by major route
Drewry's assessment across eight major East-West trades: