The Drewry World Container Index (WCI) continued its extended slump this week, falling 1% to $1,651 per 40ft container. This decline marks the 17th consecutive weekly drop for the composite index, reaching the lowest level recorded since January 2024.
The persistent contraction is largely attributed to a sustained weakening in the supply-demand balance across global shipping lanes, a trend that Drewry expects will accelerate in the coming quarters.
Asia-Europe Rates Approach Pre-Red Sea Crisis Levels
The sharpest recent volatility was observed on the Asia-Europe trade lanes, where rates recorded their ninth straight weekly decline. The current spot rates are rapidly approaching the levels seen immediately before the Red Sea security events.
- Shanghai to Rotterdam: Spot rates dropped 2% to $1,577 per 40ft container.
- Shanghai to Genoa: Rates decreased 1% to $1,793 per 40ft container.
Transpacific Trade Rates Stabilize Amidst Holiday
Spot rates on the Transpacific trade lane showed less volatility this week, reflecting the seasonal slowdown associated with China’s Golden Week national holidays.
- Shanghai to Los Angeles: Spot rates decreased marginally by 1% to $2,176 per 40ft container.
- Shanghai to New York: Rates remained stable week-over-week at $3,189 per 40ft container.
Outlook
Drewry projects that the downward pressure on spot rates will continue into the immediate future. Furthermore, Drewry’s Container Forecaster anticipates that the overall supply-demand balance will weaken significantly over the next few quarters, forecasting a sustained contraction in spot rates across major global routes.
