News
The Drewry World Container Index (WCI) surged 12% from the previous week to $2,553 per FEU in Week 20 due to higher freight rates on the trans-Pacific and Asia–Europe trade routes. The index was up 14% year on year.
On the trans-Pacific trade route, rates surged last week owing to the implementation of emergency fuel surcharges (EFSs) and peak season surcharges (PSSs) by carriers. Freight rates from Shanghai to New York increased 14% ($631) to $4,252 per FEU, and those from Shanghai to Los Angeles rose 10% ($295) to $3,357 per FEU.
On the Asia–Europe trade route, spot rates also increased last week due to higher freight-all-kinds (FAK) rates along with capacity cuts announced by carriers in May. Rates from Shanghai to Genoa soared 20% ($295) to $3,701 per FEU, and those from Shanghai to Rotterdam jumped 11% ($243) to $2,413 per FEU.
On the trans-Atlantic trade routes, spot rates hiked 1% ($7) to $1,030 per FEU from New York to Rotterdam and 3% ($74) to $2,388 per FEU from Rotterdam to New York.
