Container spot rates hit four-year highs
Global box freight benchmarks jumped to their highest since 2022 as tariff frontloading and Hormuz disruption tightened capacity.
Container spot freight rates jumped again this week, pushing global benchmarks to their highest since the pandemic-era peak of 2022, as tariff-driven cargo frontloading combined with lingering disruption around the Strait of Hormuz. Drewry's World Container Index rose 9% week on week to $4,530 per 40ft, with Shanghai to New York up 11% to $7,902 and Shanghai to Los Angeles up 10% to $6,349 per feu.
Freightos data pointed the same way, with its Asia-US West and East Coast indices each up 8%. Asia-North Europe reached about $4,900 per feu and Asia-Mediterranean $6,500. Carriers moved to bank the gains: HMM introduced a $3,000 per 40ft peak-season surcharge from 15 July, while CMA CGM lifted its Asia-North Europe freight-all-kinds rate to $6,300 per 40ft.
Frontloading ahead of threatened US tariffs has been the main driver. Linerlytica estimates teu-mile demand is growing 7.3%, ahead of 5.4% fleet growth, while nearly 11% of the boxship fleet is waiting outside ports. Splash reported Maersk has since raised its full-year guidance to an underlying operating profit of $2bn-$4bn.
Source: Splash247 (via Maasmond Maritime press clippings).
