The Drewry World Container Index (WCI) increased by 9% this week to US$4,530 per 40ft container, supported by continued strength in spot freight rates across the transpacific and Asia-Europe trades. The benchmark index now stands 61% higher than the corresponding period last year, reflecting sustained momentum in the global container shipping market.
The transpacific trade remained the primary driver of the increase. Spot freight rates from Shanghai to New York rose 11% to US$7,902 per 40ft container, while rates from Shanghai to Los Angeles climbed 10% to US$6,349 per 40ft container.
According to Drewry, tightening vessel capacity continues to underpin the market, with eight blank sailings scheduled on the transpacific trade next week. Shipping lines are also implementing further price increases through General Rate Increases (GRIs) and Peak Season Surcharges (PSS). Among them, HMM is set to introduce a US$3,000 per 40ft container Peak Season Surcharge effective 15 July.
Drewry expects freight rates on the transpacific route to continue their upward trajectory over the coming weeks as capacity constraints persist and peak season demand remains robust.
Freight rates also strengthened on the Asia-Europe trade. Rates from Shanghai to Genoa increased 10% to US$6,360 per 40ft container, while Shanghai to Rotterdam rates rose 7% to US$4,682 per 40ft container.
Unlike the transpacific market, only one blank sailing has been announced on the Asia-Europe route for next week. Drewry said carriers are continuing to manage capacity carefully, with strong seasonal demand providing further support for freight rates. The consultancy also forecasts additional increases on Asia-Europe services in the weeks ahead.
Drewry noted that the East-West container freight market has remained resilient throughout the year, supported by early peak season demand and higher shipping costs arising from geopolitical tensions.
While the reopening of the Strait of Hormuz has helped restore vessel movements following the interim US-Iran agreement, security concerns remain elevated after ship escort operations were suspended following an attack on a containership near Oman. Drewry said the continuing uncertainty in the Middle East is expected to keep upward pressure on global container freight rates.
