DREWRY WORLD CONTAINER INDEX
Ocean freight rates are still rising and are not expected to decrease any time soon. According to analyst Drewry, their World Container Index increased by 2% or $192 this week, to $9,613 per forty-foot container. Compared to the same week last year, this represents a 360% increase, and marks the 18th consecutive week of increases.
The main source of increase this week comes from Asia-US routes, where freight rates from Shanghai to Los Angeles soared 6% or $647 to reach $10,969 per 40ft container. On a year-to-year comparison, freights have gone up by 242% on this route. Spot rates on Shanghai to Genoa also rose by 2% to reach $13,261, but rates for the Shanghai-Rotterdam route remained stable, however at a record of $13,698 per 40ft container, or a 659% increase in one year.
While some routes have seen their rates slightly decrease (Los Angeles-Shanghai by 7% this week), Drewry does not see any relief for the time being, as it expects rates to increase further in the coming week.
Source: Drewry