Global container freight rates remained under pressure in the latest weekly readings, with several major benchmarks declining around China’s Golden Week holiday period.
Drewry’s World Container Index (WCI) fell 2%, while the China Containerized Freight Index (CCFI) and Ningbo Containerized Freight Index (NCFI) also moved lower. The Shanghai Containerized Freight Index (SCFI) was broadly stable, and the Freightos Baltic Index (FBX) recorded almost no change.
At trade-lane level, the latest readings showed mixed conditions across the Transpacific, while Asia-Europe continued its downward trend.
Chinese freight indexes show mixed performance
The SCFI edged up 0.05% to 3,664.11 points, compared with 3,662.30 in the previous reading.
The broader CCFI declined 0.6% to 1,912.38 points from 1,923.93.
The NCFI also moved lower, falling approximately 1.5% to 2,431.78 points from 2,468.61 in the previous reading.
The latest figures show that the Chinese benchmarks remain mixed, although two of the three recorded declines.
NYFI highlights diverging Transpacific trends
The latest NYSHEX Freight Index (NYFI), published on 9 October, showed different movements across the two major Asia-US routes.
Asia-US West Coast declined 1.98% to 7,407.75, reversing the 1.89% increase recorded in the previous reading.
Asia-US East Coast moved in the opposite direction, rising 1.40% to 9,831.24 after remaining almost unchanged in the previous assessment.
Asia-North Europe continued to weaken, falling another 3.24% to 3,356.23.
The Transatlantic market also showed contrasting movements. Westbound rates edged down 0.52% to 2,709.05, while eastbound rates increased 8.23% to 1,282.09.
Drewry WCI declines across major East-West routes
Drewry’s WCI fell 2% to US$4,351 per 40-foot container in its assessment published on 8 October.
Shanghai-Los Angeles declined 3% to US$7,624 per 40-foot container, while Shanghai-New York fell 2% to US$10,220.
Asia-Europe rates also remained under pressure. Shanghai-Rotterdam decreased 2% to US$3,337, while Shanghai-Genoa was broadly unchanged at US$3,696.
The latest WCI figures indicate softer conditions across both the Transpacific and Asia-Europe trades, although the magnitude of the declines differed between routes.
The assessment coincided with the period around China’s Golden Week holiday, when cargo demand and vessel capacity management can change.
FBX remains broadly stable
The FBX Global Container Freight Index stood at US$3,344 in its latest weekly reading, virtually unchanged from US$3,343 previously.
Unlike the WCI, which recorded a 2% decrease, the FBX showed little movement at the global level.
What the freight indexes are telling us
The latest readings indicate that the strong Transpacific gains recorded in the previous assessments have given way to a more uneven market.
NYFI’s Asia-US West Coast reading fell 1.98%, while Asia-US East Coast increased 1.40%. Drewry, meanwhile, recorded declines on both Shanghai-Los Angeles and Shanghai-New York.
The indexes use different methodologies and reporting periods, which should be considered when interpreting their respective movements.
Asia-Europe remains the more consistent source of downward pressure.
NYFI’s Asia-North Europe reading declined 3.24%, following a 3.58% decrease in the previous assessment. Drewry also recorded another decline on Shanghai-Rotterdam, although Shanghai-Genoa was broadly stable.
At the composite level, the picture is less uniform. WCI, CCFI and NCFI declined, while SCFI and FBX remained broadly stable.
The different indexes should not be compared directly in absolute terms because they use different methodologies and reporting schedules. However, their latest movements indicate continued pressure across several major freight benchmarks, with particularly persistent weakness on Asia-Europe.
What to watch next
The next readings will provide a clearer indication of freight market conditions following China’s Golden Week.
On the Transpacific, attention will focus on whether the decline recorded on Asia-US West Coast extends to the East Coast and whether the latest WCI decreases continue.
Asia-Europe will remain another important area to monitor. The continued decline in NYFI’s Asia-North Europe reading shows that the route has yet to establish a clear recovery.
Carrier capacity adjustments, including blank sailings, will also be important in determining how available supply develops relative to demand.
For now, the latest readings point to softer conditions across several global freight benchmarks, with uneven Transpacific performance and continued pressure on Asia-Europe.
