Drewry, a leading independent maritime research consultancy, announced that its Intra-Asia Container Index (IACI) registered a notable decline of 13% in the first half of July, reaching $704 per 40ft container. This downturn reflects a continued softening in spot freight rates across key trade lanes within Asia.
The latest figures reveal that the IACI is now 31% lower than its level in July 2024, underscoring a significant year-on-year contraction in regional shipping costs. Despite the recent sharp decline, Drewry anticipates that rates will remain stable over the next 15 days of July.
“The recent decline in the Intra-Asia Container Index reflects the current market dynamics within the region, influenced by various supply and demand factors,” said Drewry. “While we’ve observed a significant drop in the first half of July, our immediate outlook suggests a period of stability for the remainder of the month, indicating a potential near-term equilibrium in spot rates.”
Drewry’s Intra-Asia Container Index (IACI) is a weighted average of actual spot container freight rates across 18 major trade routes within Asia. Updated fortnightly, the Index provides essential transparency and insight into this crucial segment of the global shipping market. It comprises 18 individual route-specific indices and a composite index, with all figures reported in USD per 40ft container.
The IACI covers key routes, including, but not limited to:
- Busan-Shanghai
- Ho Chi Minh City-Shanghai
- Jakarta-Shanghai
- Jawaharlal Nehru Port-Shanghai
- Kaohsiung-Shanghai
- Laem Chabang-Shanghai
- Shanghai-Busan
- Shanghai-Ho Chi Minh City
- Shanghai-Jakarta
- Shanghai-Jawaharlal Nehru Port
- Shanghai-Jebel Ali
- Shanghai-Kaohsiung
- Shanghai-Laem Chabang
- Shanghai-Manila
- Shanghai-Singapore
- Shanghai-Tanjung Pelepas
- Shanghai-Yokohama
- Yokohama-Shanghai
