DREWRY's composite container index increased one per cent to US$2,725 per 40 ft container last week and has increased 55 per cent year on year.

The average composite index for the year-to-date is $3,230 per 40 ft container, which is $519 higher than the 10-year average rate of $2,712 (which was inflated by the exceptional 2020-22 Covid period).

Freight rates from Shanghai to Genoa increased three per cent or $102 to $3,717 per 40 ft container. Similarly, rates from Shanghai to Rotterdam rose two per cent or $47 to $3,103 per FEU.

Conversely, rates from Rotterdam to Shanghai and Shanghai to Los Angeles decreased one per cent to $739 and $3,371 per 40 ft box respectively.

While rates from Los Angeles to Shanghai, Shanghai to New York, New York to Rotterdam and Rotterdam to New York remain stable.