Drewry’s World Container Index (WCI) increased for the second consecutive week, supported by rising spot rates on the Transpacific trade.
The composite index rose 1% to US$4,339 per 40-foot container on 13 August. According to Drewry, the increase was driven by higher rates between Asia and the United States.
Transpacific rates continue to rise
Spot rates from Shanghai to New York jumped 10% to US$8,706 per 40-foot container, marking the largest weekly increase among the eight major East-West routes covered by the index.
Shanghai-Los Angeles rates also moved higher, increasing 6% to US$6,244.
Carriers have been restricting available capacity through blank sailings. Drewry said 10 sailings were cancelled in each of the past two weeks, while another seven cancellations are planned for next week.
The consultancy expects Transpacific rates to become less volatile next week as capacity tightens.
Meanwhile, several carriers have announced Panama Canal surcharges on Asia-US East Coast and Asia-US Gulf Coast trades, effective in September.
Asia-Europe rates move lower
The picture was different on Asia-Europe routes.
Shanghai-Genoa spot rates declined 8% to US$5,080 per 40-foot container, while Shanghai-Rotterdam fell 5% to US$4,425.
Drewry noted that only three blank sailings have been announced for next week, unchanged from the previous week.
Some carriers have also announced new Freight All Kinds (FAK) rates of between US$6,700 and US$7,100 per 40-foot container on the Asia-Mediterranean trade from 15 August. However, Drewry said weakening demand raises questions over whether those levels can be sustained.
The consultancy expects rates on the trade to remain stable next week.
Disruptions continue to affect container market
Drewry said the East-West container market remains volatile amid several operational and geopolitical disruptions.
Security concerns in the Suez Canal and Strait of Hormuz, restrictions on Panama Canal transits, congestion at Asian ports following Typhoon Dolphin and low-water conditions on the Rhine are affecting vessel schedules and supply chain reliability.
Against this backdrop, carriers continue to manage capacity and introduce surcharges in an effort to support freight rates.
WCI spot rates by route
| Route | Rate (US$/40ft) | Weekly change | Annual change |
|---|---|---|---|
| Composite WCI | 4,339 | +1% | +85% |
| Shanghai – Rotterdam | 4,425 | -5% | +39% |
| Rotterdam – Shanghai | 574 | -2% | +21% |
| Shanghai – Genoa | 5,080 | -8% | +65% |
| Shanghai – Los Angeles | 6,244 | +6% | +150% |
| Los Angeles – Shanghai | 830 | -1% | +17% |
| Shanghai – New York | 8,706 | +10% | +139% |
| New York – Rotterdam | 1,088 | -1% | +29% |
| Rotterdam – New York | 2,884 | +4% | +48% |
