Container freight spot rates shot up on the transpacific trades this week, with an immediate surge in demand following news of a new 90-day hiatus in the China-US trade war.
This week’s World Container Index (WCI) from Drewry, which records spot rates paid over the past week, showed prices on its Shanghai-Los Angeles leg increase 16% week on week, to end at $3,136 per 40ft, while the Shanghai-New York leg climbed even higher, with a 19% gain on the previous week.
Maritime transport defied the COVID-19 disruption. In 2020, volumes fell less dramatically than expected and by the end of the year had rebounded, laying the foundations for a transformation in global supply chains and new maritime trade patterns.
