Drewry WCI jumps 12% as Asia-Europe and Transpacific rates surge

The Drewry World Container Index (WCI) jumped 12% this week to $2,553 per 40ft container, driven by higher freight rates on the Transpacific and Asia-Europe trade lanes.

Freight rates from Shanghai to New York rose 14% to $4,252 per 40ft container, while rates from Shanghai to Los Angeles increased 10% to $3,357 per 40ft container.

The increases followed the implementation of Emergency Fuel Surcharges (EFS) and Peak Season Surcharges (PSS) by carriers. Yang Ming also announced a General Rate Increase (GRI) of $2,000 per 40ft container effective 15 May.

According to Drewry, carriers also announced seven blank sailings on the Transpacific trade route next week as they continue managing capacity.

On the Asia-Europe trade lane, rates from Shanghai to Genoa surged 20% to $3,701 per 40ft container, while rates from Shanghai to Rotterdam climbed 11% to $2,413 per 40ft container.

Carriers increased Freight All Kinds (FAK) rates and reduced capacity during May. Drewry said the Asia-Europe peak season is starting earlier than usual due to stronger bookings, tight vessel space, and disruptions linked to the ongoing US/Israel-Iran conflict.

Middle East tensions around the Strait of Hormuz and the Red Sea also continue to impact market sentiment. Carriers remain cautious on routing and operations as bunker prices rise and vessel space tightens.

Drewry expects freight rates to continue increasing next week as carriers maintain blank sailings, flexible capacity management strategies, and additional surcharges.

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