The Drewry World Container Index (WCI), a critical global benchmark for maritime procurement teams, has increased by 2% to reach $4,639 per 40ft container. Driven primarily by climbing rates on the Asia-Europe trade route, this latest increase pushes the index to its highest level since September 2024.
The market surge comes amid a backdrop of tight vessel capacity, upcoming General Rate Increases (GRIs), and renewed geopolitical tensions in the Middle East.
Transpacific trade:
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Rate Adjustments: Spot rates from Shanghai to Los Angeles ticked up 2% to $6,482 per 40ft container, while rates from Shanghai to New York held steady at $7,904.
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Capacity Constraints: Drewry’s Container Capacity Insight reports that only three blank sailings (canceled voyages) have been announced for the coming week, signaling highly constrained capacity.
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Upcoming Hikes: Multiple ocean carriers have announced GRIs ranging between $2,000 and $3,000 per 40ft container, set to take effect on July 15. Drewry projects that Transpacific rates will remain elevated in the coming weeks.
Asia–Europe and Mediterranean trade:
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Rate Adjustments: Rates from Shanghai to Rotterdam jumped 5% to $4,933 per 40ft container, while Shanghai to Genoa rates rose 2% to $6,463.
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Capacity Constraints: Similar to the Transpacific, only four blank sailings are scheduled for next week, underscoring tight space on ships.
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Freight Hikes: Carriers are aggressively supporting these firm rates through higher Freight All Kinds (FAK) pricing. Notably, CMA CGM announced new FAK rates effective July 15, hitting $7,000 per 40ft container for Asia-Europe and $7,900–$8,500 for Asia-Mediterranean routes. Drewry expects rates on these lanes to remain firm.
The broader East-West shipping market continues to experience intense volatility. Renewed tensions between the US and Iran have sparked fresh uncertainty across major maritime corridors, with heightened security concerns around the Strait of Hormuz actively disrupting daily shipping operations.
While the traditional peak shipping season is expected to start tapering off between late July and early August, shippers should not expect immediate financial relief. Ocean carriers are actively leveraging surcharges and aggressive pricing structures to sustain these elevated freight rates well into the summer.
