After a break for the Christmas holidays, Drewry resumed its communication on January 4, 2024, regarding the weekly average spot freight rates for maritime container transport. As expected, the Red Sea crisis caused a spike in rates for journeys from Shanghai to the two key European ports: Rotterdam and Genoa. On January 4th, the rate for a 40-foot container to Rotterdam was $3,577, marking a 115% increase since December 21st. For Genoa, the rate stood at $4,178, a 114% rise. This jump also puts the rates back in the green compared to the same period last year: a 91% increase between Shanghai and Rotterdam and a 43% increase between Shanghai and Genoa.
The Middle Eastern crisis is also leading to higher freight rates between China and the United States, though their percentage increase is smaller compared to Europe: shipping a container from Shanghai to Los Angeles has risen 30% in two weeks, reaching $2,726 per FEU, and from Shanghai to New York by 26%, reaching $3,858. Rates are also growing on the route between Rotterdam and Shanghai by 17% ($546), while they remain unchanged between New York e Rotterdam (only a one-dollar increase, to $593 per FEU). Another route that has remained steady (with just a two-dollar increase) is between Los Angeles and Shanghai.
