Drewry’s composite World Container index increased marginally 0.5% or US$50 to US$9,421.48 per 40ft container on 12 August, 358% higher than the same week in 2020.
This is the 17th consecutive week of increases, according to Drewry which reports that freight rates from Shanghai to Genoa soared 2% to reach US$12,993 per 40ft container, a change of 556% Y-o-Y.
At the same time, spot rates on Shanghai to Los Angeles climbed to US$10,322 for a 40ft box, while rates on Rotterdam to New York plunged 7% to US$1,171 per FEU.
Additionally, rates on Rotterdam – Shanghai and Los Angeles – Shanghai dropped slightly to US$1,651 and US$1,461 per FEU respectively.
Furthermore, Drewry noted that freight rates on Shanghai to Rotterdam, Shanghai to New York and Rotterdam to New York remain stable at the previous week’s level.
The maritime research consultants of Drewry expect rates to increase further in the coming weeks.
Drewry’s assessment across eight major East-West trades:
