Container freight rates continue to rise, and the third quarter looks set to be one of the most profitable in liner history, with July's rate increases appearing to have taken hold.
Drewry's global composite index rose 10% to $5,868 per hour recently. The latest spot index is 43% lower than the last pandemic peak of $10,377 in September 2021, but 313% higher than the pre-pandemic average of $1,420 in 2019.
Lars Jensen, founder of consulting firm Vespucci Maritime, said that freight rates on the four main east-west routes tracked by Drewry have more than doubled since the first week of May, and transpacific routes on the east and west coasts look particularly hot.
The Shanghai Containerized Freight Index, released recently, rose 19.48 points to 3,733.8 points, the highest level since August 2022.Container freight rates continue to rise, and the third quarter looks set to be one of the most profitable in liner history, with July's rate increases appearing to have taken hold.
Drewry's global composite index rose 10% to $5,868 per hour recently. The latest spot index is 43% lower than the last pandemic peak of $10,377 in September 2021, but 313% higher than the pre-pandemic average of $1,420 in 2019.
Lars Jensen, founder of consulting firm Vespucci Maritime, said that freight rates on the four main east-west routes tracked by Drewry have more than doubled since the first week of May, and transpacific routes on the east and west coasts look particularly hot.
The Shanghai Containerized Freight Index, released recently, rose 19.48 points to 3,733.8 points, the highest level since August 2022.
