Container rates continue to tick upward

The Drewry World Container Index (WCI) rose two per cent to US$2,172 per 40-ft container for the week of March 16-20, the third consecutive week of increases driven by higher rates on the Transpacific trade route.

Rates on Asia–Europe trades have remained relatively stable despite ongoing tensions in the Middle East. Spot rates on Shanghai–Rotterdam inched up one per cent to US$2,478 per 40-ft container, while Shanghai–Genoa stayed unchanged at US$3,108. As per Drewry’s Container Capacity Insight, only three blank sailings have been announced on the Asia–Europe trade route for next week, indicating steady capacity. At the same time, carriers such as MSC and CMA CGM have announced higher freight-all-kinds rates, ranging from US$6,200 to US$6,400, effective March 22. With carriers continue to push rates, Drewry expects spot rates to rise further in the coming weeks.

On the Transpacific route, rates from Shanghai to New York jumped seven per cent to US$3,310 per 40-ft container, while those from Shanghai to Los Angeles are up four per cent to US$2,591. According to Drewry’s Container Capacity Insight, six blank sailings have been announced for the next week on the Transpacific East and West Coast trade routes. As the situation in the Middle East continues to create uncertainty across global supply chains, supporting higher rates in the short term, Drewry expects spot rates on this trade to increase in the coming weeks.

U.S. and Israeli strikes on Iran have disrupted tanker traffic through the Strait of Hormuz—a key route for nearly 20 per cent of global oil—pushing crude prices higher and raising supply concerns. Rising costs have led carriers to introduce emergency fuel surcharges: CMA CGM raised its surcharge from US$150/TEU to US$265/TEU effective March 16, while OOCL, COSCO and Maersk have also implemented temporary emergency bunker surcharges. These measures are expected to drive freight costs up which would in turn increase freight rates.