Global container spot rates have seen their largest weekly increase in months, as shipping companies introduced emergency fees and reduced capacity due to ongoing geopolitical tensions and signs that the peak ship...
Global container spot rates have seen their largest weekly increase in months, as shipping companies introduced emergency fees and reduced capacity due to ongoing geopolitical tensions and signs that the peak shipping season may start early.
According to the latest information from Drewry, the Drewry World Container Index (WCI) rose by 12% this week, reaching $2,553 for a 40-foot container. This surge is mainly linked to significant increases in Transpacific and Asia-Europe shipping routes.
The largest increases were observed on routes from China to the United States, where shipping companies enforced Emergency Fuel Surcharges (EFS) and Peak Season Surcharges (PSS) in response to tighter vessel availability and rising operational costs.
Spot rates from Shanghai to New York rose by 14% week-over-week to $4,252 per FEU, while rates from Shanghai to Los Angeles saw a 10% increase, reaching $3,357 per FEU.
Drewry noted that shipping companies are closely managing capacity on Transpacific routes, with seven blank sailings scheduled for next week. Taiwan-based carrier Yang Ming Marine Transport has also announced a General Rate Increase (GRI) of $2,000 per FEU, effective May 15.
Drewry anticipates more rate hikes in the coming week.
Routes between Asia and Europe also experienced strong gains as carriers limited capacity and raised Freight All Kinds (FAK) prices. Spot rates from Shanghai to Genoa jumped 20% to $3,701 per FEU, while rates from Shanghai to Rotterdam increased by 11% to $2,413 per FEU.
The consultancy pointed out that the peak season for Asia-Europe shipping seems to be starting earlier than usual, as shippers are moving cargo faster due to limited vessel space and disruptions linked to the ongoing U.S.-Israel-Iran conflict.
The situation in the Strait of Hormuz and Red Sea continues to have a significant impact on shipping companies' planning and decision-making. Shipping lines are being cautious about their routing strategies as security issues remain across important trade routes.
Higher bunker prices, limited vessel availability, and continued pricing strategies by carriers—including EFS, PSS, GRI, and stronger FAK rates—are sustaining freight levels, despite overall stable vessel movements.
Shipping companies are also using blank sailings and flexible capacity management to keep the market tight as demand picks up heading into the summer shipping season.