Freight on Main Global Maritime Routes Rose 1% Last Week

Drewry’s World Container Index (WCI) composite freight index recorded a 1% increase to $2,725 per 40-foot container this week, marking a 55% increase compared to the same week last year.

Drewry WCI’s latest composite rate of $2,725 per 40-foot container represents a 92% increase over 2019 (pre-pandemic) average rates of $1,420.

Year to date, the average compound freight rate is US$3,230 per 40-foot container, an amount that exceeds the average of the last 10 years, estimated at US$2,712, by US$519. This increase is attributed to the COVID-19 pandemic, which occurred between 2020 and 2022, as pointed out by the consultancy.

Shipping costs from Shanghai to Genoa experienced a 3% increase, totaling US$3,717 per 40-foot container. Similarly, freight from Shanghai to Rotterdam rose 2% to $3,103 per trip.

On the other hand, rates from Rotterdam to Shanghai and Shanghai to Los Angeles saw a 1% reduction, reaching US$739 and US$3,371 per 40-foot container, respectively. Meanwhile, fares from Los Angeles to Shanghai, Shanghai to New York, New York to Rotterdam, and Rotterdam to New York remained stable.

Drewry expects freight rates from China to remain stable over the next week.

Source: Portal Portuario

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