Drewry WCI Adds 3% to $2,970; Transpacific Rates Firm on Frontloading

Summary

The Drewry WCI composite index rose 3% week-on-week to $2,970 per 40ft container for the week ending May 7. Shanghai-Los Angeles gained 4% to $3,650 and Shanghai-Rotterdam rose 3% to $3,030. Drewry said frontloading tied to possible US tariff changes later in the year continued to absorb available capacity, and expects rates to remain firm with carriers' June increases now in view.