According to Drewry’s World Container Index, the composite index rose by 12% in the week to 18 June, reaching $3,969 per 40ft container. Drewry said the increase was driven by higher rates on both the Transpacific and Asia–Europe trades.
For European importers, the sharpest signal came from the main eastbound supply routes out of China. Rates from Shanghai to Rotterdam rose by 15% to $4,342 per 40ft container, while Shanghai to Genoa increased by 12% to $5,756 per 40ft container.
Frontloading and fuel costs add pressure
Drewry linked the Asia–Europe increase to strong peak-season demand, with cargo being brought forward ahead of the expected 1 July bunker fuel adjustment. The consultancy said this had enabled carriers to implement surcharges, with further peak season surcharges and higher FAK rates already announced from July.
Drewry said only three blank sailings had been announced on the Asia–Europe trade for the following week. That is a relatively small number compared with the Transpacific, where six blank sailings were announced, but Drewry said it still reflected tight capacity on the Asia–Europe route.
The pressure is also visible in carrier pricing announcements. Maersk has revised its Peak Season Surcharge from Far East Asia to North Europe and the Mediterranean from 7 July, with a surcharge of $750 for 20ft containers and $1,500 for 40ft and 45ft containers. For shipments from South Korea, the revised surcharge applies from 16 July.
July could bring another rise
On 11 June, Drewry’s composite WCI had already risen to $3,549 per 40ft container. One week later, the index had added another 12%, taking it to an 18-month high. On the Asia–Europe trade, Shanghai–Rotterdam rates moved from $3,768 to $4,342 in a week, while Shanghai–Genoa rose from $5,139 to $5,756.
The Transpacific trade also continued to rise, with Shanghai–New York up 15% to $6,769 per 40ft container and Shanghai–Los Angeles up 10% to $5,142. Drewry said carriers were increasing rates on that trade by using surcharges to manage demand driven by cargo frontloading ahead of expected US tariff changes in July.
Drewry also noted that the recent US–Iran interim agreement had improved sentiment in global shipping markets by reducing the perceived risk of disruption in the Strait of Hormuz. However, it said uncertainty remained over implementation and the implications for global shipping.
Drewry expects rates to rise further in the coming weeks.
