The Drewry World Container Index (WCI) rose 4% this week to $1,822 per 40ft container, marking the third consecutive week of growth following a 17-week period of decline. The index, a trusted global reference for container freight costs, provides essential insight for companies considering index-linked contracts or seeking regional freight visibility.
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Spot rates from Shanghai to major destinations saw notable increases. Rates to Los Angeles climbed 6% to $2,438 per 40ft container, while shipments to New York rose 4% to $3,568. In Europe, rates to Rotterdam increased 3% to $1,795, and to Genoa by 5% to $1,955. Drewry attributes this uptick to upcoming General Rate Increases (GRIs) effective 1 November, as carriers seek to boost spot rates ahead of the annual contract negotiation season.
Despite the short-term gains, Drewry's Container Forecaster warns that the supply-demand balance is expected to weaken over the next few quarters, likely driving spot rates downward.
© Drewry
More information:
Drewry
www.drewry.co.uk
