Container rates up slightly with Transpacific trade route increases

The Drewry World Container Index (WCI) inched up one per cent to US$4,500 per 40-ft container for the week of Sept. 14-18, driven by a rise in rates on the Transpacific trade route.

On the Transpacific trade, rates from Shanghai to Los Angeles increased five per cent to US$7,712 per 40-ft container, while those from Shanghai to New York rose seven per cent to US$10,394. Carriers are managing capacity through blank sailings ahead of China’s Golden Week. According to Drewry’s Container Capacity Insight, nine blank sailings have been announced for next week, up from eight this week, indicating tighter capacity. Drewry expects rates to rise slightly next week amid impending pre-Golden Week demand and continued capacity management by carriers.

On the Asia–Europe trade route, rates from Shanghai to Genoa fell five per cent to US$4,016 per 40-ft container and slid nine per cent to US$3,626 from Shanghai to Rotterdam. According to Drewry’s Container Capacity Insight, four blank sailings are announced for next week, up from one this week, indicating tight capacity. Waiting time in Shanghai increased from 65 hours in Week 36 to 78 hours in Week 37. With tight capacity and continued congestion in Asia, Drewry expects rates to decline slightly next week, as demand remains weak.

The East-West container freight market remains uncertain, with Transpacific rates supported by pre-Golden Week demand and carrier capacity management, while Asia–Europe rates face downward pressure from the gradual return of services through the Suez Canal and relatively weak demand. Meanwhile, renewed security risks around the Red Sea and Bab el-Mandeb could affect the pace of Suez service restoration, while potential German port strikes could worsen congestion and cause schedule disruptions in North Europe. Asian port congestion and pre-Golden Week demand will remain key factors for the market in the coming weeks.