Drewry’s composite index increased 2.1% or $204 this week, and also, remains 351% higher than a year ago. The average composite index of the WCI, assessed for year-to-date, is $6,498 per 40ft container, which is $4,238 higher than the five-year average of $2,260 per 40ft container.
Drewry’s composite World Container index increased by 2.1% or $204 to reach $9,817.72 per 40ft container, 351% higher than the same week in 2020. This is the 19th consecutive week of increases.
Freight rates on Eastbound Transpacific lanes surged 4% or $393 to $11,362 from Shanghai to Los Angeles and 5% or $631 to $14,136 from Shanghai to New York per 40ft container. Spot rates on Shanghai to Genoa gained $203 to reach $13,464 for a 40ft box, a change of 594% Y-o-Y. Similarly, rates on Los Angeles to Shanghai grew 3% or $40 to $1,398 per feu. Freight rates on Shanghai to Rotterdam gained $89 to reach $13,787 for a 40ft box.
However, rates from New York to Rotterdam dropped 1% or $12 to reach $1,142 per feu. Freight rates on Rotterdam to New York and Rotterdam to Shanghai remain stable at previous weeks level. Drewry expects rates to increase further in the coming week.