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Container freight rates increased by 346% within a year (Image: MarineTraffic)Drewry’s World Container Rate Index (WCI) increased 4.2% from the previous week to an average of $8,399.09/FEU (container 40-foot). Meanwhile, the Shanghai Containerized Freight Index (SCFI) rose 119.14 points from the previous week to 3,905.14.
Drewry’s WCI is 346% higher than the same week of 2020, and this year’s WCI average is USD 5,643/FEU, about USD 3,628 higher than the five-year average of USD 2,015/FEU. .
Recent disruptions at Yantian Port in South China due to the Covid-19 outbreak have raised already very high container freight rates to new record levels. While operations at Yantian International Container Terminal (YICT) are now back to normal, the impact through the container shipping supply chain will be felt for weeks, if not months.
According to Drewry, freight rates on the Shanghai – Rotterdam route have increased by USD 228 compared to last week, to USD 12,203/FEU. The level of USD 12,203 per FEU is 567% higher than the same period last year. For return shipping on the trans-Pacific route, from Los Angeles – Shanghai has increased by 23% or USD 243 to reach USD 1,284/FEU.
Drewry said it expects freight rates to remain stable over the next week.
Source: Phaata.com
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