- Drewry’s World Container Index (WCI) fell 8% to $1,761, marking 15 straight weeks of decline.
- Transpacific spot rates dropped, with Shanghai–Los Angeles at $2,311 and Shanghai–New York at $3,278.
- Asia–Europe trade also weakened, with Shanghai–Rotterdam at $1,735 and Shanghai–Genoa at $1,990.
- Carriers are cutting capacity ahead of China’s Golden Week, with forecasts indicating continued pressure on rates.
Global container freight rates continued to soften in late September, with the Drewry World Container Index (WCI) recording its 15th straight weekly decline. The benchmark fell 8% to $1,761 per 40-foot container, with rates on both Transpacific and Asia–Europe trade lanes under pressure, according to the latest assessment from Drewry Shipping.
On the Transpacific routes, spot rates from Shanghai to Los Angeles slipped 10% to $2,311 per 40-foot container, while Shanghai–New York saw an 8% drop to $3,278 per 40-foot container. The Asia–Europe market also weakened, with rates decreasing 9% to $1,735 on the Shanghai–Rotterdam route and 7% to $1,990 on Shanghai–Genoa. Carriers are cutting back capacity in anticipation of reduced export activity during China’s Golden Week, when factories will close for eight days starting October 1.
Despite earlier support from general rate increases and blank sailings, momentum has eased, and the outlook points to further declines. Drewry’s Container Forecaster projects that the supply-demand balance will remain under pressure in the coming quarters, likely leading to additional contraction in spot rates.
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Source: Drewry Shipping
