Drewry WCI jumps 16% on Transpacific & Asia-Europe rate hikes

The index recorded a sharp increase, mainly due to rate hikes on the Transpacific and Asia–Europe trade routes.

Spot rates on the Shanghai–Genoa route increased 13 per cent to $3,885 per 40-foot container, while those on Shanghai–Rotterdam rose 10 per cent to $2,840 per 40-foot container. This upward momentum was driven by higher Freight All Kinds (FAK) rates implemented by carriers.

Spot rates from Shanghai to Los Angeles surged 26 per cent to $3,132 per 40-foot container, while rates from Shanghai to New York climbed 20 per cent to $3,957 per 40-foot container.

Rates from New York to Rotterdam remained steady at $966 per FEU, while Rotterdam to New York increased 2 per cent to $1,685 per FEU. Freight rates on the Rotterdam–Shanghai route rose 3 per cent to $504, while Los Angeles–Shanghai rates increased 1 per cent to $721 per 40-foot container.

Container shipping capacity rose 7–10 per cent month on month on both Asia–North American routes and 5–7 per cent on Asia–North Europe/Mediterranean routes in January. However, anecdotal evidence points to soft volumes from Asia to the US, suggesting these sharp increases appear opportunistic and are unlikely to be sustained.

ALCHEMPro News Desk (KUL)