Container rates drop for first time this month

Drewry World Container Index (WCI) dropped one per cent to US$4,473 per 40-ft container for the week of Aug. 24-28.

Spot rates from Shanghai to New York decreased two per cent to US$9,333 per 40-ft container, while those from Shanghai to Los Angeles remained stable at US$6,818. According to Drewry’s Container Capacity Insight, four blank sailings have been announced for the next week down from seven this week, indicating an increase in capacity. With demand remaining resilient and carriers continuing to manage capacity, Drewry expects freight rates to remain less volatile next week.

On the Asia–Europe trade route, spot rates declined this week, with rates from Shanghai to Genoa falling two per cent to US$4,866 per 40-ft container and from Shanghai to Rotterdam decreasing three per cent to US$4,287. According to Drewry’s Container Capacity Insight, four blank sailings have been announced for next week, up from two this week, reflecting constrained capacity. Last week, congestion at Shanghai port increased to an average vessel waiting time of 96 hours from 35 hours the week before. Drewry expects freight rates to remain stable next week.

The east–west container freight market remains uncertain as geopolitical and operational pressures continue to reshape shipping routes. Uncertainty around the Strait of Hormuz persists, while some carriers are cautiously resuming Suez Canal transits following improved security assessments.

At the same time, congestion across Asian ports and low Rhine water levels are disrupting cargo flows, and the Panama Canal is set to reduce transit capacity from September amid water constraints. With carriers adjusting capacity through blank sailings, shippers should book early and allow additional lead time to minimise rollover and transit-delay risks.