Global container shipping spot rates declined for a second consecutive week, with the Drewry World Container Index (WCI) falling 4% to $4,374 per 40ft container. The downturn spans major East–West trade corridors—including Transpacific and Asia–Europe routes—driven by a widening gap between expanding carrier capacity and softening market demand.
Spot rates on key Transpacific routes experienced notable declines this week:
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Shanghai to Los Angeles: Decreased 6% to $5,878 per 40ft container.
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Shanghai to New York: Fell 4% to $7,598 per 40ft container.
According to Drewry’s Container Capacity Insight, carriers have scheduled six blank (canceled) sailings on the Transpacific trade lane for next week, down from nine scheduled this week. This reduction in blank sailings marks higher capacity deployment by ocean carriers, further broadening the supply-demand imbalance. Drewry expects Transpacific rates to remain relatively stable in the coming week.
Market uncertainty remains elevated as current 10% U.S. import tariffs expire on July 24, with new tariff regulations anticipated to take effect in early August, leaving shippers to navigate shifting cost structures.
Spot freight rates across Asia–Europe lanes also recorded steady drops:
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Shanghai to Genoa: Decreased 5% to $5,988 per 40ft container.
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Shanghai to Rotterdam: Slipped 1% to $4,824 per 40ft container.
Data from Drewry’s Container Capacity Insight shows four blank sailings scheduled on the Asia–Europe route for next week—up by two from the previous week—reflecting an overall increase in available vessel capacity. With demand continuing to cool alongside rising capacity, Drewry forecasts a slight further decrease in Asia–Europe spot rates next week.
In addition to shifting supply-demand dynamics, ongoing geopolitical tensions between the U.S. and Iran—alongside heightened security concerns around the Strait of Hormuz—have prompted several major ocean carriers to announce Emergency Fuel Surcharges (EFS), effective August 2026.
Looking ahead, the combination of evolving U.S. tariff policies and geopolitical risk factors is expected to remain a central driver of freight rate volatility and market trends in the weeks ahead.
