Shipping rates increased by over 200% in the first half of 2024, peaking by mid-September 2022, according to the Drewry Global Index. As of the week ending June 27, the cost to ship a 40-foot container was $5,318, a 220% increase from the previous year. However, this rate is still 49% lower than the peak of $10,377 reached during the COVID-19 pandemic in September 2021, but 274% higher than the 2019 average of $1,420.

The composite index for 2024 saw a 30% increase per 40-foot container, which is 25% higher than the ten-year average. Shipping rates from Shanghai to Rotterdam rose by 50%, from Shanghai to Los Angeles by 40%, and from Shanghai to New York by 45%. Additionally, rates for routes from Rotterdam to Shanghai, Shanghai to Genoa, and New York to Rotterdam increased by between 10% and 30% per container, while the cost of shipping from Rotterdam to New York went up by 20%.

The Baltic Index indicates that global maritime shipping rates have risen by approximately 235% this year, with the cost of shipping a standard 40-foot container significantly increasing compared to the end of December 2023.