Container Rate Surge enters longest stretch since the Pandemic

NEW YORK : The spot rate for shipping goods in containers to Europe from Asia rose for a ninth straight week, the longest stretch of rising prices since the pandemic disrupted global supply chains in 2021.

The rate for a 40-foot container to Genoa, Italy, from China hit $7,029 over the past week, the highest level since September 2022, according to the Drewry World Container Index released. The cost to Rotterdam increased to $6,867. Both rates have essentially doubled since April.

For the busy trade route from Shanghai to Los Angeles, the rate rose for a seventh straight week, to $6,441.