The Drewry World Container Index (WCI) further increased by 0.96 per cent. The index rose to $2,309 per FEU (Forty-foot Equivalent Unit) for the week ending April 9, marking the sixth consecutive weekly increase. The index stood at $2,287 per FEU in the week ending April 2. The upward trend of the index was mainly driven by rising rates on the Transpacific and Transatlantic trade routes.

Spot rates from Rotterdam to New York jumped 25 per cent to $1,968 per 40ft box this week, breaking the usual trend of stability on the Transatlantic. The primary catalyst for this increase is a 13 per cent MoM contraction in available ocean capacity for April.

Drewry’s WCI increased 0.96 per cent to $2,309 per FEU, marking its sixth straight weekly rise, driven by strong Transpacific and Transatlantic rates.
Capacity constraints and rising bunker costs supported the uptrend, while Asia–Europe lanes softened.
Ongoing Hormuz uncertainty and fuel disruptions are likely to keep freight rates elevated.

On the Transpacific route, spot rates from Shanghai to New York increased 7 per cent to $3,671 per 40ft container, while those to Los Angeles rose 9 per cent to $2,910. Maersk is seeking US regulatory approval to waive off the 30-day notice period and to introduce an emergency bunker surcharge, citing elevated and volatile fuel costs amid tensions in the Middle East. The proposed surcharge is $200 per TEU for head-haul and $100 per TEU for backhaul dry shipments. With carriers continuing to push for rate increases, Drewry expects spot rates to increase further in the coming weeks.

Spot rates on the Asia–Europe trade declined this week, with those on Shanghai–Genoa falling 3 per cent to $3,420 per 40ft container and on Shanghai–Rotterdam decreasing 9 per cent to $2,308 per 40ft container. According to Drewry’s Container Capacity Insight, only one blank sailing has been announced for next week on the Asia–Europe trade, indicating relatively stable capacity.

Rates from New York to Rotterdam increased 6 per cent to $1,063 per FEU, while Rotterdam to New York increased 25 per cent to $1,968 per FEU. Rotterdam-Shanghai declined 2 per cent to $592 per FEU, and Los Angeles–Shanghai grew 3 per cent to $762 per 40-foot container.

A temporary two-week ceasefire in the Strait of Hormuz has allowed some shipping activity to resume, but the situation remains uncertain. Vessels are required to coordinate transit with Iranian authorities, and since no clear guidelines are available yet along with proposed transit fees, carriers are proceeding cautiously. The immediate focus is on clearing ships already stuck in the Persian Gulf rather than sending new ones in.

At the same time, disruptions to oil flows, which account for nearly 20 per cent of global supply through the strait, are ongoing and may take months to fully normalise. This continues to squeeze bunker fuel availability, which is expected to keep freight rates elevated in the near term.

Fibre2Fashion News Desk (KUL)

ICE cotton futures surged to 11-month high as weaker US dollar boosted demand. Ongoing drought concerns in key US cotton growing regions also supported the market. Although the USDA monthly WASDE report and weekly export sales report have shown bearish tone, they failed to dampen bullish momentum in US cotton trade.

The most traded May 2026 contract settled at 73.26 cents per pound, up 1.59 cent or 2.22 per cent. The contract has broken the key 73-cent resistance level, showing strong buying interest. December 2026 contract settled at 76.87 cents per pound, with gains of 1.40 cent. Most active contracts across the board gained between 80 and 174 points.

ICE cotton surged to an 11-month high, breaking the 73-cent level, driven by a weaker US dollar and drought concerns in key growing regions.
Strong trading volumes and speculative interest reinforced bullish sentiment.
Despite bearish USDA data, weather risks and rising crude oil prices supported cotton as a preferred fibre in the near term.

Market movement defied earlier “oversold” expectations, showing strong reversal and aggressive buying activity.

Trading volume remained exceptionally high at 143,973 contracts during the session, ranking as the 5th highest volume ever recorded. Previous session volume was even higher at 156,255 contracts (3rd highest ever), confirming sustained heavy participation and strong speculative trade interest. In 2026 so far, trading volume has exceeded 120,000 contracts in 7 out of 12 sessions, highlighting consistently elevated market activity.

US dollar index declined to near a one-month low, making US cotton cheaper for overseas buyers and boosting export competitiveness.

Crude oil prices rose approximately 3 per cent due to concerns over continued restrictions in the Strait of Hormuz, increasing polyester production costs and indirectly supporting cotton demand as an alternative fibre.

Market analysts noted prices dipped overnight but rebounded due to weaker dollar and drought concerns, highlighting weather as a key driver.

USDA weekly export sales data showed net sales of 319,600 bales for the current marketing year for week ending April 2, down 14 per cent from previous week but up 25 per cent compared to the 4-week average. Export data initially pressured prices but overall market sentiment remained supported by supply concerns.

ICE certified deliverable stock of No. 2 cotton futures remained unchanged at 128,213 bales as of April 8, indicating no immediate tightness from stock movement.

USDA increased global cotton production forecast for 2025-26 by 900,000 bales while raising global consumption by 560,000 bales.

Analysts said that although demand is improving, supply is rising at a faster pace (bearish factor), but adverse US growing conditions are currently providing stronger support to prices. The market is currently reacting more to weather risks than to bearish fundamental data, indicating short-term sentiment dominance

In broader commodity markets, CBOT wheat, corn, and soybean futures rebounded from previous session lows and moved higher during the day. CBOT May soybean futures closed slightly higher, supported by gains in soybean meal and soybean oil along with cross-market strength.

Cotton market showed a strong bullish breakout above 73 cents backed by heavy volume, weak dollar, and weather concerns, with price action clearly overriding bearish USDA supply projections, indicating continued weather-driven strength in the near term.

This morning (Indian Standard Time), ICE cotton for May 2026 traded at 73.16 cents per pound (down 0.10 cent), cash cotton at 71.26 cents (up 1.59 cent), the July 2026 contract at 75.25 cents (down 0.07 cent), the October 2026 contract at 77.10 cents (up 0.15 cent), the December 2026 contract at 76.79 cents (down 0.08 cent) and the March 2027 contract at 77.54 cents (down 0.08 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.

Fibre2Fashion News Desk (KUL)

The United Kingdom and Bangladesh recently agreed to reactivate the bilateral trade and investment dialogue to further consolidate economic ties and explore new avenues for strategic cooperation.

The agreement was finalised during a meeting between Bangladesh Commerce Minister Khandaker Abdul Muktadir and visiting UK Trade Envoy Baroness Rosie Winterton, an official release said.

The UK and Bangladesh have agreed to reactivate the bilateral trade and investment dialogue to further consolidate economic ties and explore new avenues for strategic cooperation.
This was decided when visiting UK Trade Envoy Baroness Rosie Winterton met Commerce Minister Khandaker A Muktadir.
Muktadir urged the UK to ensure the continued provision of preferential market facilities under the DCTS scheme.

Winterton praised the administration’s focus on investment-friendly policies and its clear initiatives aimed at securing stable, long-term growth. These steps are vital for building investor confidence, she observed.

Muktadir urged the UK government to ensure the continued provision of preferential market facilities for Bangladesh products under the UK’s Developing Countries Trading Scheme.

Fibre2Fashion News Desk (DS)