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Inflation alert: Container shipping rates just spiked (again)

Container shipping spot rates just spiked yet again Updated with latest rates: Asia-West Coast spot pricing now 3.5 times higher than a year ago COSCO container ship arriving in Oakland (Photo: Flickr/Darren Marshall) The headlines last August and September blared: “Trans-Pacific rates are going crazy.” “Rates are on fire.” “Records shattered.” Oh, what cargo shippers would give to pay the rates they paid eight or nine months ago. Those earlier records were repeatedly shattered. It just happened yet again. “Non-stop demand of ocean freight and the resulting delays and equipment shortages pushed spot rates to new heights across all major trade lanes,” said Judah Levin, the research lead at Freightos.

Drewry: World Container Index Up 9 8% on Week and a Staggering 287 4% Higher Year-on-Year

Drewry: World Container Index Up 9.8% on Week and a Staggering 287.4% Higher Year-on-Year Drewry’s composite World Container index increased 9.8% or $489 to $5,472.33 per 40ft container. Two-year spot freight rate trend for the World Container Index: The composite index increased 9.8% or $489 this week, and also, remains 278.4% higher than a year ago. The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,110 per 40ft container, which is $3,272 higher than the five-year average of $1,838 per 40ft container. Drewry’s composite World Container index increased 9.8% or $489 to $5,472.33 per 40ft container. Freight rates on Shanghai-Los Angeles gained $808 to $5,211 for a 40ft container and those on Shanghai-Rotterdam rose $788 for a 40ft box. Likewise, rates on Shanghai-New York surged $678 to $7,007 per feu. Also, rates on Shanghai-Genoa grew $264 to $8,532 for a 40ft container and those on Rotterdam-Shanghai inched up $26 to $1,394 for a 40ft box. W

Drewry: World Container Index 0 2% on Week and 226 7% Year-on-Year | Hellenic Shipping News Worldwide

Drewry: World Container Index 0.2% on Week and 226.7% Year-on-Year The composite index inched up 0.2% or $8 this week, and also, remains 226.7% higher than a year ago. The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,096 per 40ft container, which is $3,292 higher than the five-year average of $1,804 per 40ft container. Drewry’s composite World Container index inched up 0.2% or $8 to $4,913.07 per 40ft container. Freight rates on Shanghai-Genoa rose $264 to stand at $7,919 for a 40ft container and those on Shanghai-Los Angeles grew $71 to $4,209 for a 40ft box. Also, rates on Rotterdam-New York inched up $19 to $2,642 per feu. Conversely, rates on Shanghai-Rotterdam dropped $147 to come in at $7,831 for a 40ft box and those on Shanghai-New York fell $78 to $6,255 per feu. We expect the index to remain stable next week

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