In the last week of May 2024, average spot rates for container shipping continued to grow, but at a slower pace than in the previous three weeks. This is according to the weekly data from the Drewry Container Index, released on May 30. The global average index rose by 4%, bringing the rate per FEU to $4,226. Compared to the same period in 2023, the increase was 151%. At the beginning of 2024, this index stood at $3,323, which was $598 higher than the average over the past ten years.
Regional data largely reflect the overall trend, especially on the two routes from China to Europe. Rates from Shanghai to Rotterdam rose by 5%, reaching $5,270 per FEU, while those from Shanghai to Genoa saw a slightly smaller increase of 4%, reaching $5,693 per FEU. In the opposite direction, from Rotterdam to Shanghai, the increase was just one percent, to $677.
On the main transatlantic route, Rotterdam-New York, there was the only reduction of the week: a one percent decrease westbound (to $2,222 per FEU). In the reverse direction, the average rate remained stable, shifting from $630 to $628 per FEU. The most significant percentage increase in rates was seen in traffic between China and the United States: from Shanghai to New York, rates rose by 6% to $6,835 per FEU. The increase was smaller between Shanghai and Los Angeles: +2% to $5,390 per FEU. The rate in the opposite direction remained stable at $692.
Drewry forecasts that maritime transport rates from China will continue to rise in the first week of June, coinciding with the start of the early peak season. This trend reflects the dynamics of supply and demand in the global maritime transport sector, also influenced by the post-pandemic economic recovery and rising operating costs.
