Westbound rates from Los Angeles to Shanghai saw a 7.6 percent increase in the week of May 16, according to the latest release of the World Container Index. Prior to this week, rates in this lane had not risen since April 4.
The trans-Pacific westbound rate from Los Angeles reached $989 per 40-foot container, up $70 from the week before. The last time the index saw a jump this large was in early February when it rose more than 9 percent. The current rate is 13.2 percent or $115 higher than it was at the beginning of the year and roughly 17 percent higher than it was at the same point a year ago.
The Europe-to-Asia eastbound rate from Rotterdam to Shanghai slipped to its lowest rate since Jan. 31. The index fell 3 percent or $31 this week to $1,022 per FEU. This is the fourth straight week of declines in this lane, down a total of 6.3 percent or $69 during the four-week span. Despite the drop, the current rate is up 9.2 percent or $86 since the beginning of the year and up 16 percent year-over-year.