Container freight rates on eight major routes to and from the US, Europe and Asia increased by 2.9% or $291 this week, and also, remained 323% higher than a year ago.
Drewry noted that the average composite of the World Container Index, assessed by it year-to-date, is $6,794 per 40ft container, which is $4,432 higher than the five-year average of $2,362 per 40ft container.
This was contained in Drewry‘s composite on World Container Index released on Thursday, 16 September 2021.
This increase, according to Drewry’s composite, was the 22nd consecutive week of increases.
“World Container index increased by 2.9% or $291 to $10,374.64 per 40ft container, 323% higher than the same week in 2020. This is the 22nd consecutive week of increases.”
Freight rates on Shanghai to Los Angeles and Shanghai to New York surged 7% each; $855 to reach $12,424 and $1,014 to reach $16,138 per 40ft container respectively. Similarly, spot rates from New York to Rotterdam gained 2% or $18 to $1,198 per feu. Rates on Shanghai to Rotterdam, Rotterdam to Shanghai, Shanghai to Genoa, Los Angeles to Shanghai and Rotterdam to New York remain stable at previous weeks’ level.
Drewry expects rates to increase further in the coming week.