The Global Container Freight Index rose by 4% this week.

The composite index increased by 4% this week to $5,318 per 40-foot container, representing a 256% increase compared to the same period last year.

The latest composite index from Drewry WCI stands at $5,318 per 40-foot container, which is 49% lower than the peak of $10,377 in September 2021 during the pandemic but 274% higher than the average pre-pandemic price of $1,420 in 2019.

The year-to-date average composite index is $3,579 per 40-foot container, $831 higher than the 10-year average price of $2,748 (influenced by the exceptional COVID-19 period from 2020-22).

Freight rates from Shanghai to Rotterdam increased by 7%, or $455, to $7,322 per 40-foot container.

Similarly, freight rates from Shanghai to Los Angeles and Shanghai to New York rose by 4% to $6,673 and $7,827 per 40-foot container, respectively. Additionally, rates from Rotterdam to Shanghai, Shanghai to Genoa, and New York to Rotterdam rose by 1% to $676, $7,102, and $640 per 40-foot container, respectively.

Conversely, rates from Rotterdam to New York dropped by 2%, or $49, to $2,044 per 40-foot container. Meanwhile, rates from Los Angeles to Shanghai remained stable. Drewry expects freight rates to increase slightly due to congestion at Asian ports.

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