As Japan International Freight Forwarders Association (JIFFA) reported, the World Container Index (WCI) edged down 1% in Week 31, according to Drewry. The slight dip suggests that spot rates are finally finding some stability after months of turbulence.
Shipping rates surged between May and early June, driven by the U.S. tariff announcement in April. That rush faded fast, and rates began a sharp drop by mid-July. But the steep decline has since slowed.
On the trans-Pacific trade, spot rates continued to soften. Rates from Shanghai to Los Angeles dropped 2% (US$43) to US$2,632 per FEU. Shanghai to New York also fell 2% (US$75), landing at US$4,135 per FEU.
With the temporary suspension of higher U.S. tariffs on Chinese goods set to expire in mid-August, carriers are pulling back capacity. More sailings across the Pacific are being canceled as the pre-tariff shipping rush winds down. Drewry expects less volatility in the weeks ahead.
Asia-Europe lanes remained steady. Rates from Shanghai to Rotterdam held at US$3,200 per FEU, while Shanghai to Genoa stayed flat at US$3,362 per FEU.
On the trans-Atlantic route, New York to Rotterdam rates held firm at US$876 per FEU. Rotterdam to New York saw a slight drop, dipping 1% (US$27) to US$2,006 per FEU.
