Drewry ‘s World Container Index (WCI) composite index rose 41% to $3,527 per 40-foot container this week.
“Drewry’s WCI has increased by 70% over the past four weeks as President Donald Trump’s pause on import tariffs led to a resumption of US-bound traffic after the initial collapse in transpacific volumes,” the consultancy reported.
Freight rates from Shanghai to Los Angeles rose 57% to $5,876 per 40-foot container last week and 117% since May 8 (four weeks ago). Spot rates to New York rose 39% last week and 96% in the past four weeks.
Freight prices from Shanghai to Rotterdam and Genoa also increased last week, by 32% and 38%, respectively.
“The latest and sudden short-term strengthening of the supply-demand balance in global container shipping has reversed the downward trend in rates that began in January,” Drewry noted.
However, Drewry’s Container Forecaster expects the balance between supply and demand to weaken again in the second half of the year, leading to a further decline in spot rates in the second half of this year.
“The volatility and timing of tariff changes will depend on the outcome of legal challenges to Trump’s tariffs and capacity changes related to the introduction of US sanctions on Chinese vessels, which are uncertain,” the agency concluded.
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