Drewry’s composite World Container Index rose 3% to $2,286 per 40ft container in the week to 7 May, ending three consecutive weeks of decline. The increase was led by the Transpacific, where carriers have introduced emergency fuel surcharges and peak season surcharges.
Rates from Shanghai to New York rose 7% to $3,721 per 40ft container, while Shanghai to Los Angeles increased 5% to $3,062. Drewry said the rise followed the implementation of Emergency Fuel Surcharges and Peak Season Surcharges by carriers on the Transpacific trade.
The picture on Asia–Europe was more subdued. Drewry reported that Shanghai–Rotterdam rates rose 2% to $2,170 per 40ft container, while Shanghai–Genoa increased 1% to $3,075. The smaller gains suggest that the European trades are still under pressure, despite the end of the recent decline in the index.
Surcharges, not a broad demand recovery
The latest move is therefore not a clean signal of a broad recovery in container demand. The strongest increases came on routes where carriers have been adding surcharges, particularly in response to higher operating costs and uncertainty linked to the Middle East and the Strait of Hormuz.
gCaptain reported that the rebound was driven mainly by gains on the major Transpacific routes, with ocean carriers pushing emergency fuel and peak season charges after three weeks of falling spot rates. Seatrade Maritime also linked the increase to fuel and peak season surcharges, noting that the Shanghai–New York route saw the strongest weekly rise.
For shippers, the practical message is that lower spot rates may be becoming harder to secure on some routes, even where underlying demand has not dramatically improved. Carriers appear to be trying to stabilise pricing through a combination of surcharges, blank sailings and tighter capacity management.
Asia–Europe remains fragile
The Loadstar reported that spot rates across the Transpacific and Asia–Europe trades edged higher as carriers halted three weeks of price declines into Europe, but also noted scepticism among customers and analysts over whether new rate levels would fully stick. One Asia–Europe forwarder told the publication that rates from April to the first half of May had been flat, with early signs of a later increase linked to heavy blanking.
That point is important for European importers and logistics providers. If the rate increase is being supported mainly by blank sailings rather than stronger cargo volumes, the market remains vulnerable to renewed pressure when capacity returns.
The Loadstar also reported that the heavy blanking had affected allocations and led to some rollovers, showing that even a soft market can still create operational problems when sailings are withdrawn.
