The Drewry’s World Container Index saw a 1% increase, reaching $2,725 per 40-foot container by the week ending May 2. This marks a 55% growth compared to the same week last year. Presently, the index stands at $2,725, a significant 92% higher than the 2019 average rate of $1,420 before the pandemic.
Drewry’s latest container freight index reveals an average composite index for the year-to-date of $3,230 per 40-foot container, surpassing the 10-year average rate of $2,712 by $519, which was affected by the exceptional COVID period of 2020–22.
In terms of specific routes, freight rates from Shanghai to Genoa rose by 3%, equivalent to a $102 increase for a 40-foot container. Similarly, rates from Shanghai to Rotterdam increased by 2%, or $47 per FEU.
Conversely, rates from Rotterdam to Shanghai and Shanghai to Los Angeles both experienced a 1% decrease. Rates from Los Angeles to Shanghai, Shanghai to New York, New York to Rotterdam, and Rotterdam to New York remained stable. Drewry anticipates that freight rates from China will remain steady in the upcoming week.
This week’s notable freight rates are as follows: Shanghai-Rotterdam at $3,103 (up 2%), Rotterdam-Shanghai at $739 (down 1%), Shanghai-Genoa at $3,717 (up 3%), Shanghai-Los Angeles at $3,371 (down 1%), Los Angeles-Shanghai at $700 (no change), Shanghai-New York at $4,382 (no change), New York-Rotterdam at $625 (no change), and Rotterdam-New York at $2,210 (no change).