The latest maritime analysis report shows that the World Container Index has increased by 8.8%, or US$151, to US$1,866 per 40-foot container.
This is mainly reflected in the rise in the spot price of Asia-Europe maritime transportation, which has directly caused the average global maritime price to rise to a five-year high. At the same time, due to the continuous decline in shipping capacity, it is expected to further promote the continued rise in spot maritime prices.
The World Container Index shows that in the European container shipping market where capacity is still limited, as demand continues to recover, spot freight rates on trans-Pacific routes have continued to rise in the past four weeks. Freight rates in Shanghai-Los Angeles and Shanghai-New York have soared by 24% and 18%, which is equivalent to an increase of US$506 and US$486, respectively, reaching US$2,650 and US$3,207 per 40-foot box. Although after several weeks of increase, the freight rate from Shanghai to Los Angeles fell 9% last week to 2,467 USD per forty-foot equivalent (FEU), but it is still 68% higher than a year ago.
The average freight rate in Shanghai and Los Angeles is almost double that of the same period last year, an increase of 91%. However, the freight rate from Los Angeles to Shanghai remained relatively stable.
The price on the west coast of China and the United States has risen by 14% since last week to US$2464/FEU, a 76% increase from the same period in 2019. Since last week, house prices on the east coast of China and the United States have risen by 10% to $3174/FEU, a 22% increase from the same period last year.
The relevant assessment report predicts that this year’s WCI average composite index will be $1628 per 40-foot container, which is $236 higher than the five-year average of $1392 per 40-foot container.
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