The latest Drewry World Container Index (WCI) shows a 2% increase this week, reaching $3,986 per 40ft container. This is 62% lower than the pandemic high of $10,377 in September 2021 but remains 181% above the pre-pandemic average of $1,420 in 2019. Year-to-date, the average composite index is $3,946, exceeding the 10-year average of $2,867, which reflects the lingering impact of the exceptional market conditions seen during the Covid-19 pandemic.
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Freight rates from Shanghai to Los Angeles saw a 13% rise, increasing by $647 to $5,476 per 40ft container. Similarly, Shanghai to New York routes experienced a 10% hike, reaching $7,085 per container. Meanwhile, rates from Rotterdam to Shanghai showed a marginal 1% uptick, rising to $522 per 40ft container. Conversely, other routes saw declines, with Shanghai to Rotterdam dropping 8% to $4,375 and Shanghai to Genoa falling 4% to $5,210. Minor decreases were also observed on routes such as Los Angeles to Shanghai and Rotterdam to New York.
A tentative agreement between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) has averted a potential port strike in January, which could have disrupted shipping activities. Despite this, Drewry anticipates that rates on the Transpacific trade lanes may rise in the near term due to a surge in front-loading ahead of expected tariff changes under the incoming Trump administration.
Table: Drewry.
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Drewry
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