Container freight to North Europe is up about $3,000 a box in six weeks

Drewry's World Container Index rose 2% in the week to 9 July, to $4,639 per forty-foot container, its highest since September 2024. Shanghai to Rotterdam gained 5% to $4,933 and Shanghai to Genoa 2% to $6,463, while Shanghai to Los Angeles rose 2% to $6,482. Judah Levine, head of research at Freightos, wrote on 14 July that Asia to North Europe spot rates are near $5,800 per container and the Mediterranean near $7,200, each about $3,000 above six weeks ago, with the US West Coast near $7,500 and the East Coast above $9,000. He reported oil up 10% and bunker prices up 5% after the renewed closure of the Strait of Hormuz. Iran says the strait is shut to vessels without permission. The United States disputes that. Drewry expects the seasonal peak to ease from late July.