The composite World Container Index (WCI) compiled by sea trade consultancy Drewry has found a 233% year-on-year (y-o-y) increase for forty-foot-equivalent units.
This is after FEU data for last week increased by 7% to $5 117.
Drewry’s latest y-o-y data for FEUs is also 260% higher than the pre-coronavirus average measured in 2019.
Since then, FEU rates have consistently risen from $1 420 before Covid-19 disruption rippled out across the sector, leading to extreme rate volatility and current FEU costs.
Drewry has reported that “freight rates from Shanghai to Rotterdam increased 11% or $690 to $6 867 per FEU.
“Similarly, rates from Shanghai to Los Angeles grew 7% or $416 to $6 441 per 40ft box.
“Likewise, rates from Shanghai to New York rose 3% or $253 to $7 552 per 40ft container.
“Also, rates from Rotterdam to Shanghai and Shanghai to Genoa increased 2% to $672 and $7 029 per FEU respectively.
“Conversely, rates from New York to Rotterdam and Rotterdam to New York decreased 1% to $633 and $2 093 per 40ft box respectively.
“Meanwhile, rates from Los Angeles to Shanghai remain stable. Drewry expects that freight rates from China will continue to rise next week due to congestion issues at Asian ports.”
