Drewry Container Freight Index Rises 2% to $4,585

The Drewry World Container Index rose 2% to $4,585 per 40-foot container, marking a 15-week high, driven by rate increases on the Asia-Europe and Transpacific routes, according to DCN.

On the Asia-Europe route, freight rates from Shanghai to Rotterdam increased 3% to $3,632, and from Shanghai to Genoa by 5% to $4,152. On the Transpacific, rates from Shanghai to Los Angeles rose 2% to $8,007, and from Shanghai to New York by 1% to $10,166.

Carriers increased the number of blank sailings on the Asia-Europe route to eight next week from two this week, while blank sailings on the Transpacific fell to two from six. Suez Canal transits rose to 55 from 54, and container ship voyages to the Gulf dropped to two from five.

Conversely, vessel wait times at the Port of Shanghai fell from 97 hours in week 38 to 38 hours in week 42. Drewry expects a slight increase in Asia-Europe rates next week due to tight capacity, and stability on the Transpacific as US demand remains strong.

What Do These Terms Mean?

Drewry Index: A weekly index published by shipping research firm Drewry for container transport rates on major global routes.

Blank Sailings: Scheduled voyages announced as canceled by a shipping company to reduce supply capacity, raise prices, or manage weak demand.

40-Foot Container: A standard unit of measurement in ocean shipping equivalent to a 40-foot long container, used to price most dry cargo shipments.