The latest Drewry World Container Index (WCI) reports a 1% increase in global freight rates, reaching $2,309 per 40ft container. While the overall index remains relatively steady, significant shifts in capacity and geopolitical tensions are driving a divergence between major trade lanes.
The Transatlantic trade route, traditionally known for its stability, experienced a sharp departure from the norm this week.
Spot rates from Rotterdam to New York surged 25%, landing at $1,968 per 40ft box. This spike is largely attributed to a 13% month-over-month contraction in available ocean capacity for April.
Simultaneously, Transpacific routes showed upward momentum:
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Shanghai to Los Angeles: Increased 9% to $2,910.
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Shanghai to New York: Increased 7% to $3,671.
Citing volatile fuel costs exacerbated by Middle East tensions, industry giant Maersk has requested U.S. regulatory approval to bypass the standard 30-day notice period. The carrier intends to implement an Emergency Bunker Surcharge, proposed at:
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$200 per TEU for head-haul dry shipments.
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$100 per TEU for back-haul dry shipments.
In contrast to the Western routes, the Asia–Europe trade lane saw a cooling of prices. Rates from Shanghai to Rotterdam dropped 9% ($2,308), while Shanghai to Genoa fell 3% ($3,420). According to Drewry’s Container Capacity Insight, capacity remains stable in this region, with only one blank sailing scheduled for the coming week.
A temporary two-week ceasefire in the Strait of Hormuz has allowed a cautious resumption of shipping activity. However, carriers remain wary due to a lack of clear transit guidelines and the potential for new transit fees from Iranian authorities.
“The immediate priority for the industry is clearing the backlog of vessels currently positioned in the Persian Gulf,” says the report. “With oil flows—accounting for 20% of global supply—still disrupted, the squeeze on bunker fuel availability is expected to keep freight rates elevated for the foreseeable future.”
Looking ahead, Drewry expects the upward pressure on spot rates to continue as carriers persist with rate hikes and fuel-related operational costs remain high.
