Drewry, the independent maritime research and consultancy firm, reports a 3% increase in the World Container Index (WCI) to $1,746 per 40ft container this week, marking the second consecutive week of growth following a 17-week decline.
© Photosvit | Dreamstime
Spot rates from Shanghai to Los Angeles rose 4% to $2,290 per 40ft container, while rates to New York increased 6% to $3,420. On the Asia–Europe trade, rates from Shanghai to Rotterdam jumped 4% to $1,736, and to Genoa climbed 2% to $1,855. Drewry attributes the upward trend to recent general rate increases (GRIs) introduced mid-October, with further GRIs planned for 1 and 15 November, aimed at securing higher prices before the current increases stabilise.
Despite the short-term rise, Drewry's Container Forecaster predicts that the supply-demand balance will weaken in the coming quarters, likely causing spot rates to contract over time. To counter the expected rate slide, carriers have announced new FAK rates effective 1 November, ranging from $2,600 to $2,700 per 40ft container.
© Drewry
More information:
Drewry
www.drewry.co.uk
