The Drewry World Container Index (WCI) rose 9% this week to US$4,530 per 40ft container, driven by higher spot rates on the transpacific and Asia-Europe trades.
The benchmark index has increased 61% compared with the same period last year.
Transpacific rates continue to rise
Spot rates from Shanghai to New York climbed 11% to US$7,902 per 40ft container.
Rates from Shanghai to Los Angeles increased 10% to US$6,349 per 40ft container.
Drewry said capacity remains tight. Carriers have announced eight blank sailings on the transpacific trade for next week.
Shipping lines also continue to introduce General Rate Increases (GRIs) and Peak Season Surcharges (PSS). HMM will implement a US$3,000 per 40ft container PSS from 15 July.
Drewry expects transpacific rates to continue rising in the coming weeks.
Asia-Europe rates strengthen
Freight rates also increased between Asia and Europe.
Rates from Shanghai to Genoa rose 10% to US$6,360 per 40ft container.
Rates from Shanghai to Rotterdam increased 7% to US$4,682 per 40ft container.
Only one blank sailing has been announced on the Asia-Europe trade for next week.
Drewry said carriers continue to manage capacity carefully while strong peak season demand supports higher freight rates.
The consultancy also expects Asia-Europe rates to continue increasing over the coming weeks.
Middle East tensions keep pressure on the market
Drewry said the East-West container freight market has remained resilient this year.
Early peak season demand and higher shipping costs linked to geopolitical tensions continue to support rates.
The reopening of the Strait of Hormuz has helped restore vessel traffic following the interim US-Iran agreement.
However, security risks remain elevated after ship escort operations were suspended following an attack on a containership near Oman.
Drewry said ongoing uncertainty in the Middle East continues to support freight rates and maintain upward pressure on the market.
