Latest news with #DrewryWCI
Fibre2Fashion
3 days ago
- Business
- Fibre2Fashion
Drewry WCI inches up, container freight rates jump 59% in 4 weeks
The Drewry World Container Index (WCI)—a composite measure of container freight rates—edged up by 0.45 per cent to $3,543 per 40-foot equivalent unit (FEU) on June 12, rising from $3,527 per FEU the previous week. The index has surged 59 per cent over the past four weeks, as President Donald Trump's 'pause' on import tariffs led to the resumption of US-bound traffic following the initial collapse in Transpacific volumes. Freight rates from Shanghai to New York rose by 2 per cent to $7,285 per 40ft container over the past week and by 67 per cent since May 15. Meanwhile, spot rates to Los Angeles increased by 1 per cent over the week and by 89 per cent over the past four weeks. Prices on the Transpacific eastbound route changed marginally amid a fresh injection of capacity. Drewry WCI rose 0.45 per cent to $3,543 per FEU on June 12, marking a 59 per cent increase in four weeks. Transpacific rates surged as US-bound traffic resumed following President Trump's pause on import tariffs. Rates to New York and Los Angeles rose sharply, while those to Europe remained stable. However, Drewry forecasts a rate decline in H2 2025 amid uncertain tariff policies and capacity shifts. Freight rates from Shanghai to Rotterdam and Genoa remained stable during the past week, at $2,837 and $4,054 per 40ft container, respectively. The recent sharp, short-term strengthening in the global container shipping supply-demand balance has reversed the declining rate trend that began in January. However, Drewry's Container Forecaster predicts the supply-demand balance will weaken again in the second half of 2025, likely leading to a decline in spot rates. The volatility and timing of rate changes will depend on the outcome of legal challenges to Trump's tariffs and on capacity adjustments linked to the introduction of US penalties on Chinese ships—both of which remain uncertain. Fibre2Fashion News Desk (KUL)
Time of India
29-04-2025
- Business
- Time of India
Govt reviews cargo hit from shut Pak airspace
NEW DELHI: Govt is assessing the impact of Pakistan's airspace closure on air cargo from India that is headed to the Gulf, Europe, and the US. Exporters suggest that the impact is not going to be significant. Tired of too many ads? go ad free now While most of the cargo moves by sea, around 3-4% of garments are exported on aircraft, either on passenger planes or freighters, with some gems and jewellery also taking that route. Similarly, some electronics are moved by planes, as are some perishables. However, exporters said the quantity is not significant enough to cause any major disruption. Govt's decision to ban the transshipment of cargo from Bangladesh will also help soften prices in India. Some pressure is expected towards the end of May, when some shipments will be front-loaded ahead of the July 9 deadline for reciprocal tariffs to kick in. When Trump announced tariffs at the start of April, companies rushed to ship goods to beat the deadline, with Apple shipping five plane-loads of products. Garment buyers and gems and jewellery exporters also saw large quantities of goods being shipped from India by air. The pressure on freight reduced after US President Donald Trump paused reciprocal tariffs for 90 days, along with a sharp fall in shipments from China. The Drewry WCI composite index fell 2% to $2,157 for 40-foot containers during the week ended April 24, with the rates from China seeing the sharpest fall in the wake of the tariff war. On a year-on-year basis, New York-Rotterdam rates have risen 32% but are down 36% for Rotterdam-Shanghai and 24% for Shanghai-Rotterdam. Tired of too many ads? go ad free now from Shanghai to New York decreased 3% or $95 to $3,611 per 40ft container during the week ended April 24. Those from Shanghai to Los Angeles and Rotterdam to Shanghai fell 2% to $2,617 and $481 per 40ft container, respectively. However, rates for containers from New York to Rotterdam rose 1% to $825, while costs on Shanghai-Genoa and Los Angeles-Shanghai routes remained stable. "Drewry expects rates to continue to decline in the coming week due to uncertainty stemming from reciprocal tariffs," the maritime research and consulting firm said.
Fibre2Fashion
25-04-2025
- Business
- Fibre2Fashion
Drewry WCI falls 1.59% as tariffs weaken shipping demand
The Drewry World Container Index (WCI)—a composite measure of container freight rates—further eased by 1.59 per cent to $2,157 per 40-foot equivalent unit (FEU) on April 24, down from $2,192 per FEU the previous week. Uncertainty in global trade due to the ongoing tariff war has dented demand for freight shipping containers. Weaker demand may further dampen sentiment in the freight shipping market. According to the weekly report, the index remains 79 per cent below the pandemic peak of $10,377 recorded in September 2021. However, it is still 52 per cent higher than the pre-pandemic average of $1,420 in 2019. Drewry WCI dropped 1.59 per cent to $2,157 per FEU on April 24, reflecting reduced demand due to global tariff tensions. Despite being 79 per cent below its 2021 pandemic peak, it remains 52 per cent above 2019 levels. Major trade routes saw rate declines, while some remained stable. Drewry anticipates further rate drops amid continued trade uncertainty and reciprocal tariffs. The year-to-date (YTD) average composite index stood at $2,854 per 40ft container, $38 higher than the 10-year average of $2,891 (which includes the exceptionally high rates during the 2020–2022 COVID period). Freight rates from Shanghai to New York decreased by 3 per cent, or $95, to $3,611 per 40ft container. Rates from Shanghai to Los Angeles and Rotterdam to Shanghai fell by 2 per cent to $2,617 and $481 per 40ft container, respectively. Similarly, rates from Shanghai to Rotterdam and Rotterdam to New York declined by 1 per cent to $2,312 and $2,109 per 40ft container, respectively, while rates from New York to Rotterdam increased by 1 per cent, or $8, to $825 per 40ft container. Meanwhile, rates from Shanghai to Genoa and Los Angeles to Shanghai remained stable. Drewry expects rates to continue to decline in the coming week amid ongoing uncertainty stemming from reciprocal tariffs. Fibre2Fashion News Desk (KUL)
