Drewry’s World Container Index (WCI) saw its steepest climb since it started in 2012. The index, published yesterday, reported a rise of 15.9% or US$1,104 to reach US$8,061.65 per forty-foot equivalent unit (FEU)—which is 332% higher than the same week in 2020.
The average composite index of the WCI assessed by Drewry for year-to-date is US$5,533 per 40ft container, which is US$3,546 higher than the five-year average of US$1,987 per 40ft container.
Drewry expects rates to remain on the higher side in the coming week too. Shippers hoping for some price respite from ocean carriers are now battered by records further falling.
Freight rates surged on the transpacific lanes. For instance, rates on Shanghai-New York and Shanghai-Los Angeles soared 39% and 34% to US$11,180 and US$8,548 per FEU, respectively.
Spot rates on Shanghai-Genoa increased US$603 to stand at US$11,448 for a 40ft box, which is 540% higher than same period in 2020. Similarly, rates on Shanghai-Rotterdam gained US$779 to reach US$11,975, a Y-O-Y change of 626%.
Likewise, rates on both New York-Rotterdam and Rotterdam-New York grew 3% to come in at US$1,155 and US$4,744 for a 40ft container, respectively.
