Container rates down another percentage point

The Drewry World Container Index (WCI) fell one per cent for the week of Feb. 23-27 to US$1,899 per 40-ft container for the seventh consecutive week due to a decrease in rates on the Transpacific and Asia–Europe trade routes.

Spot rates on Asia–Europe trade routes continued to decline, with rates on Shanghai–Rotterdam down one per cent to US$2,094 per 40-ft container and those on Shanghai–Genoa dropping two per cent to US$2,826. Drewry said volumes typically rebound in March as factories across Asia reopen, but rates are expected to remain under pressure due to rising capacity. Drewry expects spot rates on this trade to soften in the coming weeks.

Spot rates from Shanghai to Los Angeles decreased one per cent to US$2,191, while those on Shanghai to New York remained stable at US$2,771 per 40-ft container. According to Container Capacity Insight, nine blank sailings have been announced for the next week on the Transpacific East and West Coast trade lanes, lower than this week, as factories gradually return to full production after Chinese New Year. Drewry expects spot rates on this trade to remain stable next week.

Rates could fluctuate as U.S. President Donald Trump explores alternative measures to reinstate tariffs after the U.S. Supreme Court ruled last April’s tariffs illegal, including an immediate 10 per cent global tariff with plans to increase it to 15 per cent, signalling policy uncertainty.