Drewry index rises as trans-Pacific pricing strengthens while uncertainty in the Strait of Hormuz continues to influence global shipping.
Global container spot rates continued to rise last week, reaching their highest level in nearly 22 months as shipping lines maintained pricing discipline during the peak shipping season. Strong cargo frontloading ahead of expected U.S. tariff changes and constrained vessel capacity supported further gains, while ongoing uncertainty in the Strait of Hormuz remained a key factor for the global freight market.
According to supply chain analytics firm Drewry, its World Container Index increased 5% to $4,166 per 40-foot container in its June 25 assessment, marking the benchmark’s highest level since September 2024.
Trans-Pacific rates continue to climb
The increase was primarily driven by the trans-Pacific trade lanes, where shipping lines continue to benefit from cargo frontloading ahead of anticipated U.S. tariff changes.
Spot rates from Shanghai to New York increased 6% to $7,149 per 40-foot container, while rates from Shanghai to Los Angeles climbed 12% to $5,750.
Drewry reported that only four blank sailings have been announced for the current week, indicating continued capacity constraints. The company also noted that carriers are preparing additional general rate increases (GRIs) and peak season surcharges (PSS) for July, with spot rates expected to continue rising in the coming weeks.
Asia-Europe market remains stable
Freight pricing on Asia-Europe routes remained comparatively stable during the same period.
Rates from Shanghai to Rotterdam edged up 1% to $4,392 per 40-foot container, while rates from Shanghai to Genoa remained unchanged at $5,759.
Only three blank sailings have been announced for the Asia-Europe trade this week. Drewry stated that carriers continue to maintain firm pricing ahead of the July 1 bunker fuel adjustment, with CMA CGM announcing higher Freight All Kinds (FAK) rates and new peak season surcharges effective next month.
Strait of Hormuz remains a key uncertainty
Despite stronger freight markets, developments in the Strait of Hormuz continue to create uncertainty for carriers and importers.
According to NBC News, commercial shipping through the strategic waterway has gradually resumed following the recent U.S.-Iran interim agreement, although operations remain under heightened security measures. Shipping companies continue to navigate cautiously following attacks on merchant vessels and ongoing guidance from Iranian authorities regarding approved transit routes.
The situation became more uncertain after a merchant vessel was struck by a projectile near the Omani coast, prompting the International Maritime Organization (IMO) to temporarily suspend its voluntary evacuation programme for stranded vessels while reassessing safety conditions.
Many vessels continue to avoid the centre of the strait because of mine-related risks, instead travelling closer to Omani waters, resulting in longer and more complex voyages.
Although crude oil shipments through Hormuz have recovered to their highest levels since the Iran conflict began, analysts noted that overall vessel traffic remains below pre-conflict levels as carriers continue to monitor the stability of the current ceasefire framework.
For importers, the market remains influenced by strong seasonal shipping demand alongside continued geopolitical uncertainty in the Middle East. Drewry expects container spot rates to continue moving higher as carriers maintain pricing discipline ahead of July.
