Maritime container shipping rates rose slightly last week but still remain far below their high points in the second half of 2018, according to a report from the U.K. shipping consultancy Drewry Shipping Consultants Ltd.
The World Container Index, a composite of container freight rates on eight major routes to and from the U.S., Europe, and Asia, is up 4.9 percent to $1,373.28 per 40-foot container this week, Drewry said today.
Spot freight rates have been volatile in the maritime sector in recent months. A chart showing the two-year trend for Drewry's World Container Index shows that the same index hovered near highs of $1,800 between August 2018 and January 2019, but had sunk to lows below $1,200 between January and April last year.
The maritime container shipping market will likely continue to face disruption in 2019 as markets struggle with factors like the ongoing U.S.-China trade war, escalating geo-political tension in many regions of the world, and an industry grappling with challenging new emission regulations, Drewry said in a recent report.
The composite index increased 4.9% this week but is 7.6% down compared with same period of 2018. Freight rates from Shanghai-New York rose by 6% or $167 to touch $2,823 per 40ft container. View our detailed assessment: https://t.co/6p2hMDY2cV pic.twitter.com/41qDBmnlWt— Drewry (@DrewryShipping) July 18, 2019