Four major factors drive up shipping prices, container shipping index has surged over 60% in nearly seven weeks

On June 1, container shipping index futures surged immediately after market open, with the main 2607 contract rising as much as 13.08% intraday and closing up 11.69%. This contract has posted gains for seven consecutive weeks since late April, accumulating a total increase of 60.78%. In the spot market, according to Weiyun data, the peak season has arrived earlier than in previous years, and the east-west container shipping market is steadily strengthening. As of the week ending May 22, freight rates on the Shanghai–Genoa and Shanghai–Rotterdam routes increased by 10% and 15% week-on-week, respectively. Additionally, there were significant increases on the South America and Australia–New Zealand routes.