In accordance with the assessment of Drewry Supply Chain Advisors, the container rates increased sharply this week. As it is mentioned, their composite World Container Index increased by 16% to $3,159 per 40-feet container and this is 81% higher than the same week in 2023.

Freight rates from Shanghai to Rotterdam increased 20% or $606 to $3,709 per 40-feet container.

Similarly, rates from Shanghai to Los Angeles surged 18% or $617 to $3,988 per FEU.

Likewise, rates from Shanghai to Genoa and Shanghai to New York spiked 16% to $4,295 and $5,089 per 40-feet box respectively.

Moreover, rates from New York to Rotterdam inched up 1% or $4 to $629 per container.

Conversely, rates from Rotterdam to New York decreased 2% or $50 to $2,160 per 40-feet box.

Likewise, rates from Rotterdam to Shanghai declined 6% or $44 to $695 per FEU, while rates from Los Angeles to Shanghai remain stable.

Drewry expects freight rates ex-China to continue increasing in the upcoming week amid a huge demand spike and tight capacity.

Source: World Container Index, Drewry Supply Chain Advisors