The latest data from the Drewry World Container Index (WCI) reveals a significant cooling in the global shipping market. For the fourth consecutive week, the composite index has dropped 7%, settling at $1,959 per 40ft container.
This downward trend marks a notable shift in market dynamics for the early part of 2026. Typically, the industry experiences a “cargo rush” ahead of the Lunar New Year; however, this seasonal surge has not materialized, leading to aggressive capacity management by carriers.
The slump is most pronounced across major trade lanes connecting Asia to the US and Europe. Despite the looming factory closures in Asia, demand remains sluggish, forcing spot rates lower across the board.
Key Route Adjustments:
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Shanghai to Los Angeles: Decreased 8% to $2,239.
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Shanghai to New York: Decreased 5% to $2,819.
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Shanghai to Rotterdam: Decreased 9% to $2,164.
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Shanghai to Genoa: Decreased 7% to $3,048.
In an effort to stabilize the market against rising volatility and weak demand, carriers are canceling voyages at a frequency significantly higher than in previous years. According to Drewry’s Container Capacity Insight, the industry is seeing a massive wave of “blank sailings” scheduled for the next three weeks:
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Transpacific Routes: 18, 27, and 28 blank sailings announced.
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Asia–Europe Routes: 9, 16, and 9 blank sailings announced. “The traditional pre-Lunar New Year demand peak is conspicuously absent this year,” notes the report. “Despite carriers aggressively managing capacity, the supply-demand imbalance continues to favor shippers in the short term.”
Given the current trajectory and the impending factory closures in China, Drewry expects spot rates to continue their decrease in the coming weeks. Shippers can expect further market volatility as carriers struggle to align vessel capacity with an unexpectedly quiet start to the year.
