The Drewry World Container Index (WCI), the benchmark widely referenced by procurement teams, rose 2% to reach $4,639 per 40ft container. This climb, largely driven by higher rates on the Asia–Europe trade route, pushed the index to its highest level since September 2024.
On the Transpacific trade route, rates from Shanghai to Los Angeles increased 2% to $6,482 per 40ft container, while rates from Shanghai to New York remained stable at $7,904 per 40ft container. According to Drewry’s Container Capacity Insight, only three blank sailings have been announced on the Transpacific trade route for the next week, reflecting tight capacity. A few carriers have announced GRIs in the range of $2,000–$3,000 per 40ft container on the Transpacific trade route, effective 15 July. Drewry expects rates to remain elevated in the coming weeks.
On the Asia–Europe trade route, spot rates continue to increase this week. Freight rates from Shanghai to Genoa rose 2% to $6,463 per 40ft container, and those from Shanghai to Rotterdam increased 5% to $4,933 per 40ft container. According to Drewry’s Container Capacity Insight, only four blank sailings have been announced on the Asia to Europe trade route for the next week, reflecting constrained capacity. Carriers are attempting to support freight rates through higher FAK levels, with CMA CGM announcing FAK rates of $7,000 per 40ft container on Asia–Europe and $7,900–$8,500 per 40ft container on Asia–Med, effective from 15 July. Drewry expects rates to stay firm in the coming weeks.
The East–West container freight market remains volatile as US–Iran tensions have reignited uncertainty in the Middle East. Heightened security concerns around the Strait of Hormuz continue to disrupt shipping operations. While the seasonal demand peak is expected to ease from late July into early August, carriers are seeking to sustain freight rates through surcharges.
(Photo from Port of NY/NJ)