The Drewry World Container Index (WCI) has reversed a three-week downward trend, increasing 3% this week to $2,286 per 40ft container.
The recovery is primarily driven by sharp rate hikes on Transpacific trade lanes and steadying figures across Asia–Europe routes, as carriers implement aggressive pricing strategies to combat market volatility.
The Transpacific trade route saw the most significant gains following the implementation of Emergency Fuel Surcharges (EFS) and Peak Season Surcharges (PSS).
Key rate movements include:
-
Shanghai to New York: Rose 7% to $3,721 per 40ft container.
-
Shanghai to Los Angeles: Increased 5% to $3,062 per 40ft container.
Major carriers are leading the pricing shift. MSC significantly increased its EFS, raising rates on the Asia–USEC route from $430 to $644 and on the Asia–USWC route from $272 to $467 per 40ft container. Simultaneously, CMA CGM introduced a $2,000 PSS effective May 1. Based on these developments, Drewry anticipates further rate increases on these lanes in the coming week.
While spot rates on the Asia–Europe trade route remained largely stable this week—with Shanghai to Rotterdam increasing 2% ($2,170) and Shanghai to Genoa edging up 1% ($3,075)—carriers are signaling a push for much higher levels.
CMA CGM, Hapag-Lloyd, and MSC have announced new Freight All Kinds (FAK) rates effective May 15:
-
Asia–North Europe: $3,500 – $4,500 per 40ft container.
-
Asia–Mediterranean: $4,500 – $4,600 per 40ft container.
Despite these announcements, market analysts remain skeptical regarding full implementation. Persistent weak demand and excess capacity continue to create a supply-demand imbalance. In response, carriers are aggressively managing capacity through blank sailings; effective capacity is projected to decline by 3% for Asia–North Europe and 10% for Asia–Mediterranean throughout May.
The maritime industry remains on high alert due to ongoing tensions in the Middle East, particularly surrounding the Strait of Hormuz. While vessel movements remain stable for now, carriers maintain a cautious operational stance.
As the market remains highly reactive, carriers are expected to continue using EFS, PSS, and firmer FAK levels to stabilize their bottom lines. For the immediate future, Drewry expects Asia–Europe rates to remain stable next week, while Transpacific rates are forecasted to maintain their upward trajectory.
