Drewry’s World Container Index rose 1% to $2,309 per 40-foot container this week.
The Drewry World Container Index (WCI) rose 1% to $2,309 per 40-foot container, driven mainly by higher prices on the trans-Pacific and trans-Atlantic trade routes.
Spot prices from Rotterdam to New York jumped 25% to $1,968 per 40-foot box this week, breaking the usual trend of stability in the transatlantic region. The primary catalyst for this increase is a 13% month-on-month contraction in available ocean capacity for April.
On the trans-Pacific route, spot rates from Shanghai to New York rose 7% to $3,671 per 40-foot container, while rates to Los Angeles rose 9% to $2,910. Maersk is seeking approval from US regulators to waive the 30-day notice period and impose an emergency fuel surcharge, citing high and volatile fuel costs amid tensions in the Middle East. The proposed surcharge is $200 per TEU for vertical shipments and $100 per TEU for dry shipments. As carriers continue to push for price increases, Drury expects spot rates to rise further in the coming weeks.
Spot prices for trade between Asia and Europe fell this week, with prices in Shanghai-Genoa falling 3% to $3,420 per 40-foot container, and Shanghai-Rotterdam falling 9% to $2,308 per 40-foot container. According to Drewry’s Container Container Insight, only one empty sailing has been announced next week in the Asia-Europe trade, indicating relatively stable capacity.
A two-week temporary ceasefire in the Strait of Hormuz has allowed some shipping activities to resume, but the situation remains uncertain. Ships are required to coordinate transit with Iranian authorities, and since no clear guidelines are yet available — besides proposed transit fees — carriers are moving cautiously. The immediate focus is on clearing ships already stuck in the Arabian Gulf rather than sending new ones.
Meanwhile, disruptions to oil flows, which account for nearly 20% of global supplies through the Strait, continue and could take months before they fully return to normal. This continues to put pressure on bunker fuel availability, which is expected to keep freight rates high in the near term.
Source: Drury
