Global freight consultancy Drewry has reported a dramatic surge in container shipping rates, with its latest World Container Index (WCI) rising 41% to $3,527 per 40ft container in just one week.
© MichailPetrov | Dreamstime
The sharp increase reflects a broader rebound in the transpacific trade, triggered by former U.S. President Donald Trump's recent "pause" on import tariffs, which reversed an earlier collapse in volumes. Drewry notes that the WCI has now soared 70% over the last four weeks.
Spot rates from Shanghai to Los Angeles jumped 57% in the past week, reaching $5,876 per container, a staggering 117% rise since 8 May. Similarly, rates to New York climbed 39% over the week and 96% over the past month.
Freight costs from Shanghai to Europe also rose, with a 32% increase to Rotterdam and 38% to Genoa.
This marks a significant short-term reversal in a trend of falling rates observed since January. However, Drewry cautions that the relief may be temporary: 'Drewry's Container Forecaster expects the supply-demand balance to weaken again in the second half, which will cause spot rates to decline again in the second half of this year.'
The forecast adds that the volatility and timing of future rate changes will depend heavily on outcomes of legal challenges to Trump's tariffs and uncertain capacity adjustments linked to proposed U.S. penalties on Chinese shipping lines.
© Drewry
More information:
Drewry
www.drewry.co.uk