The Drewry World Container Index (WCI) fell 8% to US$1,761 per FEU in Week 39, marking 15 straight weeks of decline, as Japan International Freight Forwarders Association (JIFFA). Rates on key routes, trans-Pacific and Asia–Europe, also continued to drop.
Spot rates from Shanghai to Los Angeles dropped 10% (US$250) to US$2,311 per FEU, while Shanghai–New York rates fell 8% (US$293) to US$3,278 per FEU. Early September gains from GRIs and blank sailings have faded, pushing prices lower.
Asia–Europe rates also slid: Shanghai–Rotterdam down 9% (US$175) to US$1,735 per FEU, and Shanghai–Genoa down 7% (US$141) to US$1,990 per FEU. Carriers are cutting capacity to match slowing demand ahead of China’s Golden Week, and rates are expected to keep falling.
On the trans-Atlantic trade, rates dipped 1% (US$5) to US$842 per FEU from New York to Rotterdam and 6% (US$107) to US$1,819 per FEU from Rotterdam to New York.
Drewry expects the supply-demand balance to weaken in coming quarters, likely driving spot rates lower.
