The Drewry World Container Index (WCI) recorded its fourth consecutive week of increases, climbing 8% to $1,959 per 40ft container, successfully reversing a prolonged decline that spanned 17 consecutive weeks.
The upward momentum follows the implementation of General Rate Increases (GRIs) and other strategic pricing actions by carriers across major global trade lanes.
Key Trade Lane Highlights:
Transpacific Routes: Spot rates from Shanghai to Los Angeles increased by 9% to $2,647 per 40ft container, while rates to New York rose by 8% to $3,837. These increases align with the November 1st GRIs.
Asia–Europe Routes: Rates from Shanghai to Rotterdam increased by 9% to $1,962 per 40ft container, and rates to Genoa saw an 8% rise to $2,111.
Carriers on the Asia–Europe route are further attempting to bolster spot rates by introducing higher Freight All Kinds (FAK) rates, ranging from $3,000 to $3,600 per 40ft box, effective November 15. These maneuvers are seen as an effort to elevate market prices before the start of the key annual contract negotiation season.
Despite the current market buoyancy, the upward trend is expected to be short-lived. Carriers continue to implement pricing measures to counteract persistent downward pressure on rates caused by increased vessel capacity.
Drewry’s Container Forecaster anticipates that the supply-demand balance will weaken in the next few quarters, leading to a projected contraction in spot rates unless further strategic GRIs are aggressively introduced and maintained by carriers.
The Drewry World Container Index has long served as the go-to, independent, global reference for index-linked contracts within the container shipping industry.
