Container Freight Rates Surge on Key Routes

The latest Drewry World Container Index has shown significant increases in container freight rates, reflecting growing demand and congestion at major ports. As of July 4, 2024, the index has risen 10% to $5,868 per 40ft container, a substantial jump from previous weeks.

Particularly notable are the rates for shipments from Shanghai to key global ports:

  • Shanghai to New York: Rates increased by 17% to $9,158 per 40ft container.
  • Shanghai to Los Angeles: Rates saw a 12% rise, reaching $7,472 per 40ft container.
  • Shanghai to Rotterdam: Up 10% to $8,056 per 40ft container.
  • Shanghai to Genoa: Increased by 7% to $7,573 per 40ft container.

In contrast, some routes experienced declines. Rates from Rotterdam to Shanghai dropped by 5% to $643 per 40ft container, and rates from Rotterdam to New York decreased by 3% to $1,977 per 40ft container.

Overall, the Drewry index indicates a dynamic and fluctuating market, influenced by various factors including port congestion and global economic conditions. Drewry anticipates continued minor increases in rates from China due to ongoing port congestion issues in Asia.

We at Aprile continue to monitor these developments closely to provide optimal solutions for our clients, ensuring efficient and cost-effective transportation across these major routes.

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