Transpacific freight rates strengthened in the latest weekly readings, while Asia-Europe rates continued to move lower, reinforcing the widening gap between the two major container shipping markets.
At headline level, the broader indexes remained mixed. The SCFI and CCFI increased, while the NCFI and Freightos Baltic Index declined and Drewry’s World Container Index remained stable.
Chinese freight indexes remain mixed
The Shanghai Containerized Freight Index (SCFI) increased 2% to 3,662.18 points from 3,590.05 in the previous reading.
The broader China Containerized Freight Index (CCFI) also strengthened, rising 1.4% to 1,862.18 points from 1,837.01. Both movements are confirmed by the latest Shanghai Shipping Exchange readings.
The Ningbo Containerized Freight Index (NCFI), however, edged lower. The index declined approximately 0.3% to 2,582.64 points from 2,591.28 previously.
The three Chinese benchmarks therefore continued to show different movements, although the gains in the two Shanghai-based indexes outweighed the relatively small decline in Ningbo.
NYFI shows stronger Transpacific rates
The latest NYSHEX Freight Index (NYFI) readings provided a clearer indication of strengthening Transpacific conditions.
Asia-US West Coast increased 3.53% to 6,585.56 from 6,361.11, while Asia-US East Coast climbed 8.55% to 8,753.37 from 8,063.84.
Asia-North Europe moved firmly in the opposite direction, falling 3.78% to 3,905.52 from 4,058.96.
The Transatlantic market remained mixed. Westbound rates declined 1.27% to 2,314.69, while eastbound rates increased 4.71% to 1,208.55.
Drewry confirms Transpacific-Europe split
Drewry’s World Container Index (WCI) remained stable at US$4,476 per 40-foot container for the second consecutive week. However, the unchanged headline reading masked contrasting movements across the major trades.
Shanghai-Los Angeles increased 2% to US$7,352 per 40-foot container, while Shanghai-New York edged 1% higher to US$9,726.
Europe continued to move in the opposite direction. Shanghai-Rotterdam declined 2% to US$3,997, while Shanghai-Genoa fell 3% to US$4,216.
Drewry also reported eight Transpacific blank sailings for the following week, compared with seven in the current week, pointing to tighter capacity. Despite this, the consultancy expects rates to remain stable as demand eases and carriers continue to manage capacity.
FBX extends decline
The Freightos Baltic Index (FBX) Global Container Freight Index declined 1% in its latest weekly reading to US$3,499.
It marked another decline for the global benchmark after the previous week’s 2% fall to US$3,520.
The FBX movement contrasts with the increases in SCFI and CCFI and reinforces the mixed picture at global and composite-index level.
What the freight indexes are telling us
The clearest signal this week comes from the individual trade routes rather than the headline indexes.
Both NYFI and Drewry point to strengthening Transpacific freight rates. NYFI recorded gains of 3.53% on Asia-US West Coast and 8.55% on Asia-US East Coast, while Drewry reported increases on both Shanghai-Los Angeles and Shanghai-New York.
The evidence on Asia-Europe is similarly consistent but in the opposite direction. NYFI’s Asia-North Europe reading fell 3.78%, while Drewry reported further declines from Shanghai to Rotterdam and Genoa.
The headline benchmarks are less uniform. SCFI rose 2%, CCFI gained 1.4%, NCFI edged 0.3% lower, FBX declined 1% and WCI remained stable.
The indexes use different methodologies and reporting schedules, meaning their absolute values are not directly comparable. Taken together, however, the latest readings provide increasingly consistent evidence of stronger Transpacific conditions alongside continued pressure on Asia-Europe rates.
What to watch next
Capacity management will be an important factor in the coming weeks, particularly ahead of China’s Golden Week.
Drewry reported a sharp increase in announced blank sailings across the major East-West trades, suggesting carriers are becoming more active in adjusting capacity ahead of the holiday period.
The next readings will show whether these adjustments can sustain Transpacific rates and whether the downward trend on Asia-Europe continues.
