SPOT container shipping rates have surged once more in the first week of July after two weeks of moderate increases, reports Milan's TrasportoEuropa.
Drewry's World Container Index indicated a 10 per cent increase in the composite index (which includes all routes) within seven days and a staggering 298 per cent year-on-year increase, reaching US$5,868 per FEU.
A 10 per cent increase was also observed in the average rate between Shanghai and Rotterdam, pushing the value above the $8,000 mark to $8,056. On an annual basis, this represents a 499 per cent increase.
The weekly increase in the average rate between Shanghai and Genoa was slightly lower at seven per cent, bringing the rate to $7,573 per FEU, with an annual increase of 280 per cent.
Notably, the only decrease was seen in shipments from Rotterdam to Shanghai, where the average rate dropped by five per cent to $643. The annual increase for this route remains at 18 per cent, almost the same level as June 2023.
Transpacific rates were even higher, with weekly increase percentages higher than those between China and Europe. The record belongs to the average spot rate between Shanghai and New York, which surged by 17 per cent to $9,158 per FEU.
At this pace, an additional 9.19 per cent increase could see rates hitting $10,000 within a week. Double-digit increases were also recorded for the FEU rate between Shanghai and Los Angeles, which rose by 12 per cent to $7,472. Over the year, the increases were 254 per cent and 356 per cent respectively.
https://www.shippingazette.com/news?news_id=9240700000403
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