Global container freight rates showed signs of recovery in the latest weekly assessments, with all four major composite benchmarks recording increases. However, the improvement was far from uniform across individual trade lanes, particularly on Asia-Europe, where two leading indexes reported sharply different movements.
Drewry’s World Container Index (WCI) increased 3%, while the Freightos Baltic Index (FBX) rose 2%. China’s Shanghai Containerized Freight Index (SCFI), China Containerized Freight Index (CCFI) and Ningbo Containerized Freight Index (NCFI) also advanced.
The latest figures suggest an improvement in overall freight rate conditions, although contrasting developments across the Transpacific, Asia-Europe and Transatlantic markets underline the uneven nature of the recovery.
Chinese freight indexes move higher
The SCFI increased 0.42% to 3,679.58 points in its 16 October assessment, compared with 3,664.11 in the previous reading.
The broader CCFI rose 0.54% to 1,922.64 points from 1,912.38, reversing the decline recorded in the preceding assessment.
The NCFI posted a stronger increase of approximately 2.67%, reaching 2,496.79 points from 2,431.78.
The simultaneous increases across the three Chinese benchmarks indicate a firmer overall market in their latest assessments, although the scale of the improvement varied.
NYFI shows continued weakness on Asia-North Europe
The NYSHEX Freight Index (NYFI), published on 16 October, revealed substantial differences between individual trade lanes.
Asia-US West Coast increased 0.91% to 7,475.40, compared with 7,407.75 previously. Asia-US East Coast also moved higher, rising 1.09% to 9,938.75 from 9,831.24.
Both major Transpacific routes therefore recorded gains, although the increases remained relatively modest.
Asia-North Europe moved sharply in the opposite direction. The route declined 7.08% to 3,118.71 from 3,356.23 in the previous assessment, extending the weakness recorded in the preceding week.
The Transatlantic market showed even greater divergence.
Westbound rates surged 14.77% to 3,109.16 from 2,709.05, representing the largest percentage increase among the five NYFI routes covered.
Eastbound rates, meanwhile, fell 8.53% to 1,172.79 from 1,282.09, reversing the previous assessment’s increase.
These contrasting movements demonstrate how individual trade lanes can develop differently even when broader freight benchmarks are rising.
Drewry WCI rises as Asia-Europe rates recover
Drewry’s WCI increased 3% to US$4,485 per 40-foot container in its assessment published on 15 October, compared with US$4,351 previously.
On the Transpacific, Shanghai-Los Angeles rose 3% to US$7,884 per 40-foot container, while Shanghai-New York declined 1% to US$10,075.
The Asia-Europe market recorded stronger increases.
Shanghai-Rotterdam climbed 6% to US$3,522 per 40-foot container, while Shanghai-Genoa advanced 7% to US$3,945.
According to Drewry, the latest increases on Asia-Europe followed 13 consecutive weeks of declining rates. The consultancy also highlighted carrier efforts to introduce higher Freight All Kinds (FAK) rates from 19 October.
The latest WCI assessment therefore points to a recovery across the two major Asia-Europe routes covered, even as the NYFI Asia-North Europe reading continued to decline.
FBX Global Index increases 2%
The FBX Global Container Freight Index rose 2% to US$3,397.20 in its latest weekly assessment, compared with approximately US$3,344 previously.
The increase marks a change from the broadly stable reading recorded in the preceding assessment.
Alongside the rise in Drewry’s WCI and the three Chinese composite indexes, the FBX movement reinforces the picture of firmer global benchmark readings.
However, the individual trade-lane assessments show that this improvement was not shared equally across all routes.
What the freight indexes are telling us
The most notable development in the latest figures is the difference between the Asia-Europe assessments published by NYFI and Drewry.
NYFI’s Asia-North Europe reading fell 7.08%, while Drewry recorded increases of 6% on Shanghai-Rotterdam and 7% on Shanghai-Genoa.
Although these assessments cover related markets, they are not directly interchangeable. The indexes use different methodologies, data sources and reporting periods, which must be considered when interpreting their respective movements.
The contrasting readings therefore do not establish a single, uniform direction for Asia-Europe freight rates.
On the Transpacific, the picture was comparatively firmer.
Both NYFI Asia-US routes recorded increases, while Drewry reported higher Shanghai-Los Angeles rates. However, Shanghai-New York declined slightly, indicating that the recovery was not consistent across every assessment.
The Transatlantic market presented another important contrast. NYFI Westbound increased almost 15%, while Eastbound fell more than 8%, demonstrating substantial differences between the two directions.
At the composite level, the results were more consistent. SCFI, CCFI, NCFI, FBX and WCI all increased, suggesting an improvement in the broader freight environment captured by the latest readings.
Nevertheless, the differences across individual routes show why composite index movements should be examined alongside more detailed trade-lane assessments.
What to watch next
The coming assessments will help establish whether the latest increases in global freight benchmarks represent the beginning of a more sustained recovery or a temporary improvement.
Asia-Europe will be particularly important to monitor. Drewry’s latest increases suggest firmer conditions on Shanghai-Rotterdam and Shanghai-Genoa, while NYFI continues to report downward pressure on Asia-North Europe.
The impact of carriers’ planned FAK rate increases from 19 October will also be worth following, particularly whether higher announced rates translate into stronger subsequent market assessments.
On the Transpacific, attention will focus on whether the modest increases recorded by NYFI continue and whether Drewry’s Shanghai-New York route returns to positive territory.
Carrier capacity management, including blank sailings and adjustments to available vessel space, will remain relevant to the balance between supply and demand.
For now, the latest readings point to an improvement in global container freight benchmarks, but the considerable differences across individual trade lanes suggest that the recovery remains uneven.
