Drewry World Container Index climbs to 10 month high
The Drewry World Container Index (WCI) saw a 2% increase this week, reaching US$4,639 per 40ft container. This marks its highest level since September, driven by robust Asia-Europe rates.
Freight rates from Shanghai to Rotterdam climbed 5% to US$4,933 per 40ft container, and rates to Genoa rose 2% to US$6,463. Drewry attributes these gains to limited capacity, with only four blank sailings planned for the Asia-Europe trade next week. Furthermore, carriers are implementing higher Freight All Kinds (FAK) rates, evidenced by CMA CGM’s recent announcements of US$7,000 per 40ft for North Europe and US$7,900–8,500 per 40ft for the Mediterranean, effective July 15th.
On the Transpacific routes, rates from Shanghai to Los Angeles increased by 2% to US$6,482 per 40ft container, while Shanghai-New York rates held steady at US$7,904. Drewry noted that only three blank sailings are scheduled for this route next week. Additionally, several carriers plan to implement General Rate Increases (GRIs) of US$2,000-3,000 per 40ft, also commencing July 15th.
Drewry indicates that the East-West container freight market remains volatile, partly due to renewed US-Iran tensions and the resulting uncertainty surrounding the Strait of Hormuz. Despite expectations of a seasonal demand dip from late July into early August, carriers are actively working to sustain elevated freight rates through surcharges and disciplined capacity management.