The World Container Index, which tracks global container freight rates, rose for the second consecutive week. Rates on Asia–Europe and transpacific routes pushed the index higher, while waiting times at the Port of Shanghai are showing signs of easing.
Drewry, a shipping research firm that publishes research and data, reported the World Container Index (WCI) at $4,585 per 40-foot container, up 2% from the previous week. The increase marked the second consecutive weekly rise, with spot rates on major routes rising across the board. Asia–Europe and transpacific routes are seen as the factors driving the index higher.
By route, Shanghai–Rotterdam rose 3% to $3,632, while Shanghai–Genoa rose 5% to $4,152. Blank sailings are expected to increase to 8 next week, and carriers’ capacity cuts are seen as a factor pushing rates higher. Shanghai–Los Angeles stood at $8,007, while Shanghai–New York exceeded $10,000, with US import demand said to be supporting freight rates.
Meanwhile, congestion at the Port of Shanghai is easing, with vessel waiting times falling from 97 hours in week 38 to 38 hours in week 42. Navigation risks related to the situation in the Middle East remain, and freight rates are expected to be influenced by demand trends, capacity adjustments and the security situation.