Drewry World Container Index rises for second consecutive week

The Drewry World Container Index (WCI) increased by 2% to $4,585 per 40ft container, marking its second consecutive week of growth. This rise was driven by higher rates on Asia-to-Europe and Transpacific trade routes, reaching a 15-week high.

On the Transpacific route, rates from Shanghai to Los Angeles rose 2% to $8,007, while Shanghai to New York increased 1% to $10,166. Strong US import demand continues to support these rates. On the Asia-Europe route, rates from Shanghai to Rotterdam rose 3% to $3,632, and Shanghai to Genoa grew 5% to $4,152. Carriers are managing capacity through blank sailings to maintain upward pressure on rates in this sector.

Intra-Asia rates also saw movement, with the Drewry Intra-Asia Container Index (IACI) rising 6% to $1,459 per 40ft container. Notable increases occurred on the Shanghai-Busan route (up 14%) and Shanghai-Kaohsiung route (up 8%).

While congestion at major Asian ports like Shanghai and Ningbo has eased, vessel waiting times increased in Busan and Singapore. Security risks in the Gulf continue to impact vessel movements, though sailings through the Suez Canal showed a slight increase.