Container rates down another percentage point

The Drewry World Container Index (WCI) fell one per cent to US$1,651 per 40-ft container, marking the 17^th consecutive weekly decline to reach the lowest level since January 2024.

Spot rates on the Transpacific trade lane remained less volatile this week, reflecting a seasonal slowdown during China’s Golden Week holidays. Spot rates from Shanghai to Los Angeles decreased one per cent to US$2,176 per 40-ft container, while those from Shanghai to New York remained stable at US$3,189.

Spot rates on the Asia-Europe trade lane have recorded their ninth straight weekly decline, approaching levels prior to the Red Sea attacks. The spot rate for a 40-foot container is now at US$1,577 from Shanghai to Rotterdam, a two per cent decline, and US$1,793 from Shanghai to Genoa, a one per cent drop. Drewry expects rates to continue to decline in the coming week.

Drewry’s Container forecaster expects the supply-demand balance to weaken in the next few quarters, which will cause spot rates to contract.