The Drewry World Container Index (WCI) has registered its 14th consecutive week of decline, falling 6% to $1,913 per 40-foot container. The latest decrease brings the index back below the $2,000 mark.
After a brief period of divergence, the major Transpacific and Asia–Europe trade routes are now aligned in a downward trajectory, though at different speeds.
On the Transpacific trade, spot rates have resumed their decline, reverting to levels seen at the beginning of September. The rate from Shanghai to Los Angeles dropped 4% to $2,561 per 40ft container, while the Shanghai to New York route saw a 5% decrease to $3,571 per 40ft container. The previous momentum from General Rate Increases (GRIs) and blank sailings has now faded, contributing to the reduction in rates.
Similarly, Asia–Europe spot rates continued their descent this week, with the Shanghai to Rotterdam rate falling 11% to $1,910 per 40ft container and the Shanghai to Genoa rate declining 9% to $2,131 per 40ft container. This decline is attributed to carriers’ difficulty in matching increased vessel capacity—from newly introduced ships—with a softening in demand.
Drewry expects rates to continue falling in the coming weeks as carriers increase blank sailings ahead of China’s Golden Week holidays, which begin on October 1st.#
Looking further ahead, Drewry’s Container Forecaster anticipates that the supply-demand balance will weaken again in the second half of 2025, leading to further contraction in spot rates.
The timing and volatility of these rate changes will be influenced by external factors, including potential future tariffs from the Trump administration and capacity adjustments resulting from any US penalties on Chinese ships, both of which remain uncertain.
