Container tariffs rates Asia and Europe could see a significant rise
Container rates on the important route between Asia and Europe appear to be on the verge of a significant increase. According to consultant Drewry’s World Container Index, the first clear movement is already visible this week. Container rates rose by 19 per cent shortly after tensions escalated again in the Middle East.
The average price for transporting a container between Shanghai and Rotterdam is now around $2,500 per 40-foot container. A week earlier, that rate was still about $2,100. This suggests that the recent period of declining container rates may now be coming to an end.
Container rates respond to geopolitical tensions
The recent rise in container rates comes at a time when international shipping is once again facing geopolitical uncertainty. Tensions in the Middle East are affecting shipping routes, insurance costs and the scheduling of container services.
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Drewry’s World Container Index is widely used worldwide as a benchmark for container freight rates on major trade routes, including Asia–Europe and Asia–America.
During the Red Sea crisis in late 2023, a similar situation occurred. In the first week, container rates rose by 16 percent, before increasing by more than 100 percent shortly afterwards. If a comparable development happens again now, container shipping rates between Asia and Europe could rise sharply once more.
Shipping lines push for higher container rates
Several container shipping companies have already announced plans to increase their freight rates. Both Hapag-Lloyd and CMA CGM are targeting rates of around $4,000 per 40-foot container on the Asia–Europe route from mid-March onward.
MSC is going one step further. The shipping line has announced that it intends to charge a container rate of $4,700 per 40-foot container on this route from 22 March. According to the announcement, this price will remain valid until further notice, but at least until the end of March.
According to the shipping companies, fuel surcharges are already included in these rates. However, the final price for container transport may still rise if the geopolitical situation deteriorates or if demand for container transport suddenly increases.
Container rates to Mediterranean even higher
Interestingly, container rates for transport to the Mediterranean are currently even higher than those on the route to Northern Europe. The rate for container transport between Shanghai and Genoa is now around $3,120 per 40-foot container.
MSC has even announced plans to charge rates of $6,200 per container for transport to several ports around the Mediterranean. For destinations in North Africa, container rates could rise even further.
At the same time, price levels for container transport from Europe to Asia remain relatively low. Rates for shipments from Rotterdam to Asia actually declined slightly this week and are currently around $528 per 40-foot container.
The coming weeks will determine how container rates develop further. If geopolitical tensions persist and shipping companies reduce capacity, the market could once again see a sharp increase in prices.
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