Shanghai-New York Spot Near Record as Lanes Split

The Shanghai to New York spot rate rose 7 percent week over week to $10,394 per 40-foot container in the Drewry World Container Index assessment published Thursday, September 17, per Reuters reporting of the index. Xeneta's parallel assessment of the same lane put the off-contract rate at $10,948 per FEU, which is $554 short of the all-time high of $11,900 set in January 2022. Xeneta chief analyst Peter Sand told Reuters that a new record cannot be ruled out this month, because Golden Week volume spikes and bunker fuel surcharges are pushing in the same direction. The story of the day is not one number, though. It is the spread. On the Freightos Baltic Index print of September 18, the China…