Container Spot Rates Edge Higher: Transpacific Leads Gains, Hormuz Crisis Pushes Costs Higher

The Drewry World Container Index (WCI) rose 2% this week to $2,172 per 40-foot container, marking a third consecutive weekly increase as strength on Transpacific routes continues to support the market.

Rates from Shanghai to New York jumped 7% to $3,310 per FEU, while Shanghai to Los Angeles climbed 4% to $2,591, reflecting tightening capacity and six announced blank sailings across East and West Coast trades. Drewry expects further near-term gains as supply chain uncertainty tied to Middle East tensions continues to underpin pricing.

On Asia–Europe routes, rates remained relatively stable. Shanghai–Rotterdam edged up 1% to $2,478 per FEU, while Shanghai–Genoa held steady at $3,108. Limited blank sailings—just three scheduled for next week—suggest capacity remains balanced, though carriers including MSC and CMA CGM are pushing higher FAK rates in the $6,200–$6,400 range starting March 22.

Escalating geopolitical risks are also feeding into costs. Disruptions to tanker traffic through the Strait of Hormuz—handling roughly 20% of global oil flows—have pushed crude prices higher, prompting carriers to introduce or increase emergency bunker surcharges. CMA CGM has raised its surcharge to $265 per TEU, with Maersk, OOCL, and COSCO implementing similar measures.

Drewry expects rising fuel costs and continued carrier pricing discipline to drive spot rates higher in the coming weeks.

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