The Drewry World Container Index (WCI) held steady this week at $1,852 per 40ft container. The overall stability of the composite Index was achieved as falling rates on the Transpacific route were offset by continued increases on the Asia-Europe trade.
Spot rates on the Transpacific Headhaul lanes decreased for the second consecutive week:
Rates from Shanghai to New York dropped 10% to $2,922 per 40ft container.
Rates from Shanghai to Los Angeles fell 7% to $2,172 per 40ft container.
This softening trend is expected to continue next week. According to Drewry’s Container Capacity Insight, an anticipated decrease in blank sailings will increase available capacity on the Transpacific trade route, likely leading to a further softening of rates.
Asia-Europe Rates Continue Ascent
Conversely, the Asia-Europe trade route recorded its sixth straight week of increasing spot rates:
Rates from Shanghai to Genoa climbed 6% to $2,319 per 40ft container.
Rates from Shanghai to Rotterdam rose 8% to $2,193 per 40ft container.
Carriers on the Asia-Europe route are actively pushing for higher rates, with the introduction of elevated Freight All Kinds (FAK) rates ranging from $3,100 to $4,000 per 40ft box, effective December 1st. This move is strategically timed to raise spot rates ahead of the annual contract negotiation season.
Long-Term Outlook
Looking ahead, Drewry’s Container Forecaster suggests that the supply-demand balance is expected to weaken over the next few quarters, particularly should normal vessel transits through the Suez Canal resume, easing capacity constraints on key global trade arteries.
