The average year-to-date (YTD) composite index is $3,946 per FEU, which is $1,084 higher than the 10-year average of $2,862 (inflated by the exceptional 2020-22 COVID period).
Drewry WCI rose7.76 per cent to $3,803 per FEU on December 19, spurred by potential ILA strike and anticipated rate hikes under Trump.
Despite this, it remains 63 per cent below its 2021 peak but 168 per cent above 2019 average.
Freight rates on key routes varied, with increases on the Shanghai to US lanes and decreases to Europe, as the market braces for more hikes due to geopolitical factors.
Freight rates from Shanghai to Los Angeles increased by 26 per cent or $917 to $4,499 per FEU, and those from Shanghai to New York increased by 17 per cent or $875 to $6,074 per FEU. Similarly, rates from Rotterdam to New York edged up by 3 per cent or $91 to $2,713 per FEU.
On the other hand, rates from Shanghai to Genoa and from Rotterdam to Shanghai decreased by 2 per cent to $5,424 per FEU and $508 per FEU, respectively. Rates from New York to Rotterdam and from Shanghai to Rotterdam shrank by 1 per cent to $824 per FEU and $4,819 per FEU, respectively, while those from Los Angeles to Shanghai remained stable.
Drewry expects an increase in rates on the Transpacific trade in the coming week, driven by front-loading ahead of the looming ILA port strike in January 2025 and the anticipated tariff hikes under the incoming Trump Administration.
Fibre2Fashion News Desk (KUL)
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