The increase in spot rates for maritime container transport continued into the fourth week of May 2024, with growth rates higher than in previous weeks, according to the Drewry Container Index released on May 23. Notably, the route between Shanghai and Rotterdam saw a 20% increase in average freight rates in just one week, reaching $4,999 per FEU. Similarly, the route between Shanghai and Genoa experienced significant growth, with rates climbing from $4,776 to $5,494 per FEU in seven days, marking a 15% increase.
Comparable increases were observed on routes between China and the United States: the average spot rate between Shanghai and Los Angeles rose by 18% to $5,277 per FEU, and the rate between Shanghai and New York increased by 13% to $6,463. In this rising trend, only two routes remained relatively stable: Rotterdam-Shanghai, which saw a slight decrease of 1%, and Los Angeles-Shanghai, where the rate remained unchanged at $622 per FEU from the previous week.
The trans-Atlantic route between Rotterdam and New York also remained fairly stable. Westbound trips saw a minor 1% increase to $2,242 per FEU, while eastbound rates remained unchanged at $630. These figures have driven the composite average index, covering all routes, to exceed the $4,000 mark, reaching $4,072, with a weekly increase of 16%. Compared to the same period in 2023, this represents a 142% increase. The average composite index for the current year stands at $3,280 per FEU, exceeding the ten-year average of $2,717 by $559, influenced by the exceptional period of COVID-19 between 2020 and 2022.
