The World Containerised Freight Index (WCI) rose a further 16% last week to reach $4,072 per FEU on May 23rd, 142% above the 2023 period. This followed increases of 11% and 16% in the weeks ending May 16 and May 9, respectively.

On May 24, the benchmark Shanghai Shipping Exchange (SCFI) posted a more modest but still significant gain of 7.24% to 2,703.43 points. In the past two weeks, the SCFI has risen 29.8 percent.

According to analysts, shippers in the United States and Europe are in a replenishment phase, possibly due to concerns about summer supply disruptions, especially in the United States, leading to a small “early season”.