Shipping demand increased from Asia to the United States as exporters sought to meet the deadline for higher tariffs at US ports. However, freight rates from the United States to Asia either declined or remained stable.
Drewry World Container Index rose 2.58 per cent to $2,265 per FEU on April 10, driven by tariff-related disruptions and reduced capacity.
Rates increased on major Asia-Europe and transpacific routes, while US-Asia rates remained stable or declined.
The index is still 78 per cent below its 2021 peak but 59 per cent above 2019 levels.
Drewry expects further rate increases in the coming weeks.
According to the weekly report, the index remains 78 per cent below its pandemic peak of $10,377 recorded in September 2021. Nevertheless, it is 59 per cent higher than the pre-pandemic average of $1,420 in 2019.
The average year-to-date (YTD) composite index stood at $2,944 per 40-foot container, which is $55 higher than the 10-year average of $2,889 (inflated by the exceptional 2020-22 COVID period).
Freight rates from Shanghai to Rotterdam increased by 4 per cent, or $88, to $2,392 per 40-foot container, while those from Shanghai to Los Angeles rose by 3 per cent, or $89, to $2,815 per 40-foot container. Similarly, rates from Rotterdam to Shanghai and Shanghai to New York climbed 2 per cent to $475 and $3,976 per 40-foot container, respectively.
Likewise, rates from Shanghai to Genoa and Rotterdam to New York increased by 1 per cent to $3,071 and $2,153 per 40-foot container, respectively, whereas rates from New York to Rotterdam fell by 1 per cent, or $7, to $824 per 40-foot container.
Meanwhile, rates from Los Angeles to Shanghai remained unchanged. In the coming weeks, Drewry expects rates to rise further due to tariffs and reduced capacity.
Fibre2Fashion News Desk (KUL)
