Drewry's latest analysis of global container shipping reveals a 3% rise in the World Container Index (WCI), bringing the average cost per 40ft container to $3,905. While this figure is significantly below the pandemic peak of $10,377 recorded in September 2021, it remains 175% higher than the 2019 pre-pandemic average of $1,420. The year-to-date (YTD) composite index also sits at $3,905, surpassing the 10-year pre-pandemic average of $2,865—a testament to the ongoing volatility in freight markets shaped by post-COVID adjustments.
Photo: Dreamstime.
Shanghai continues to play a pivotal role in freight rate dynamics. The route from Shanghai to Los Angeles saw a 7% increase, with rates rising by $330 to $4,829 per 40ft container. Similarly, the Shanghai to New York corridor experienced a 6% hike, adding $371 to reach $6,445 per 40ft container. Modest growth was also observed on European routes, with rates from Rotterdam to Shanghai and New York to Rotterdam increasing by 2% to $516 and $838, respectively. However, a 1% dip was noted in the Shanghai to Rotterdam route, where rates fell by $45 to $4,774 per 40ft container. Routes such as Shanghai to Genoa, Los Angeles to Shanghai, and Rotterdam to New York remained stable, reflecting broader market consistency.
Table: Drewry.
The upward trend in transpacific rates is attributed to a combination of factors, including pre-emptive front-loading in anticipation of a potential strike by the International Longshoremen's Association (ILA) in January 2025. This movement is further driven by tariff adjustments expected under the incoming Trump administration, which have already begun to influence shipping patterns and capacity planning.
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