The Drewry World Container Index (WCI) recorded its 17th consecutive weekly decline, dropping 1% to $1,651 per 40ft container. This marks the lowest point for the composite index since January 2024, reflecting a significant and sustained weakening in global container shipping spot rates.
The latest decline is consistent with Drewry’s long-term forecast, which anticipates further contraction in rates due to a deteriorating supply-demand balance in the coming quarters.
Asia-Europe Rates Approach Pre-Red Sea Levels
The most pronounced downward pressure was observed on the Asia-Europe trade lanes, which are nearing the rate levels seen before the Red Sea disruptions began. The spot rate from Shanghai to Rotterdam dropped 2% this week, settling at $1,577 per 40ft container, marking the ninth straight weekly decline. Similarly, the rate from Shanghai to Genoa saw a 1% decrease, reaching $1,793 per 40ft container.
Transpacific Trade Rates Exhibit Seasonal Stability
Spot rates on the Transpacific trade lane showed less volatility, primarily influenced by the seasonal slowdown during China’s Golden Week holidays.
The rate from Shanghai to Los Angeles saw a minor 1% decrease, closing at $2,176 per 40ft container.
The rate from Shanghai to New York remained stable this week at $3,189 per 40ft container.
Drewry expects global spot rates to continue to decline in the coming week as the underlying market fundamentals point toward a weaker supply-demand balance over the next few quarters.
