Increasing demand for shipments from China is driving up container freight rates.
The Drewry World Container Index jumped another 16% to $4,072 per 40-foot container this week, after rising 11% last week.
The value of freight has increased by 142% compared to the same period last year, since the beginning of May the increase has been 49.3%.
Recall that the Drewry World Container Index monitors global shipping prices.
Rates from Shanghai to Genoa, after +11% last week, grew by 15% weekly to 5,494 dollars per 40-foot box, still remaining 13% below the maximum of 6,365 dollars reached on January 25th, in following the well-known problems related to transit in the Red Sea due to Houthi bombings against Western ships.
