LONDON — Global container spot rates moved higher for a third time in the previous week, supported by gains on trans-Pacific routes and rising fuel-related costs linked to the war involving Iran, according to the latest update from supply chain analytics firm Drewry.
The Drewry World Container Index rose 2% to $2,172 per 40-foot container in its March 19 assessment. The increase reflects continued upward pressure on pricing, particularly on shipments from Asia to the United States.
On the trans-Pacific, spot rates from Shanghai to New York increased 7% to $3,310 per 40-foot container, while rates to Los Angeles rose 4% to $2,591. Drewry said capacity remains relatively steady, with six blank sailings announced for next week across East and West Coast routes. The firm expects rates on the trade lane to increase further in the near term.
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Asia-Europe routes showed more limited movement. Rates from Shanghai to Rotterdam rose 1% to $2,478 per 40-foot container, while Shanghai to Genoa remained unchanged at $3,108. Drewry noted that capacity on the lane is stable, with only three blank sailings scheduled next week. However, carriers including MSC and CMA CGM have announced higher Freight All Kinds (FAK) rates effective March 22, suggesting additional upward pressure on pricing in the weeks ahead.
Geopolitical developments are also influencing costs. U.S. and Israeli strikes on Iran have disrupted tanker traffic through the Strait of Hormuz, a key route for roughly 20% of global oil supply. The disruption has pushed crude prices higher, increasing bunker fuel costs for ocean carriers.
In response, several carriers have introduced emergency surcharges. CMA CGM raised its emergency bunker surcharge from $150 per TEU to $265 effective March 16, while OOCL, COSCO and Maersk have also implemented temporary fuel surcharges.
For U.S. importers, the latest increase in spot rates reflects a combination of recovering volumes and rising operating costs. While pricing remains below earlier peaks, Drewry said the ongoing conflict and carrier pricing actions are likely to keep upward pressure on rates in the near term.
