The Drewry Intra-Asia Container Index (IACI) rose 10% this week to a record high of US$1,114 per 40-foot container.
The benchmark index has strengthened in 11 of the last 12 weeks.
Drewry said the index has more than doubled since the US-Israeli attacks on Iran, reflecting strong demand and growing market uncertainty.
Freight rates increased sharply on several routes connecting China with South and Southeast Asia.
Rates from Shanghai to Jawaharlal Nehru Port surged 35% to US$2,367 per 40-foot container.
Shanghai to Laem Chabang climbed 15% to US$1,277 per 40-foot container.
Drewry said many Western cargo owners are bringing forward shipments of Christmas merchandise. Concerns over higher costs and potential disruptions continue to support demand.
The consultancy added that this year’s peak season has started earlier than usual. Manufacturers are moving larger volumes of semi-finished goods and components across Asia, particularly between China and Southeast Asia.
Drewry expects freight rates to continue rising in the coming weeks as demand remains strong and congestion persists at regional ports.
Not all trade lanes moved higher.
Rates from Laem Chabang to Shanghai fell 7% to US$232 per 40-foot container.
Ho Chi Minh City to Shanghai also declined 7% to US$65 per 40-foot container.
Other routes recorded mixed performance. Shanghai to Tanjung Pelepas increased 12% to US$1,641 per 40-foot container, while Shanghai to Singapore slipped 1.3% to US$1,209. Shanghai to Yokohama rose 2% to US$839, while Yokohama to Shanghai fell 1% to US$89.
Meanwhile, COSCO Shipping will launch its new South China–Northern Vietnam–Western India service, SEI2, in early June.
The service will connect Qinzhou, Yangpu, Haiphong, Singapore, Mundra and Hong Kong.
COSCO said the service will strengthen links between South China, Southeast Asia and Western India while offering faster transit times between Haiphong and Mundra.
Drewry said the overall intra-Asia market remains firm due to strong cargo demand, limited capacity and growing port congestion.
The consultancy also pointed to Middle East tensions, higher bunker fuel prices and fuel surcharges as factors pushing freight rates higher across the region.
