Drewry's WCI has increased 21% in the last 3 weeks, as President Donald Trump's "pause" on import tariffs led to a resumption of US-bound traffic after the initial collapse of transpacific volumes.
Freight rates from Shanghai to Los Angeles have jumped 17% to $3,738 per 40ft container in the past week and 38% since 8 May (3 weeks ago). Spot rates to New York have risen 14% in the past week and 42% in the past 3 weeks.
Freight rates from Shanghai to Rotterdam and Genoa have also risen in the past week, by 6% and 3%, respectively.
This was the first double-digit rise in the composite index since July 2024.
The latest sudden, short-term strengthening in the supply-demand balance in global container shipping has reversed the trend of declining rates, which had started in January.
However, Drewry's Container Forecaster expects the supply-demand balance to weaken again in the second half, which will cause spot rates to decline again in the second half of this year. The volatility and timing of rate changes will depend on the outcome of yesterday's legal challenges to Trump's tariffs and on capacity changes related to the introduction of the US penalties on Chinese ships, which are uncertain.
For more information:
Drewry
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www.drewry.co.uk
