- Transpacific rates fall for second straight week.
- Asia–Europe rates rise for sixth consecutive week.
- Carriers plan higher FAK rates from 1 December.
The Drewry World Container Index held steady this week at $1,852 for a 40ft container, with drops in Transpacific routes being offset by increases on Asia–Europe lanes, reports Drewry.
Transpacific Rates Keep Dropping
Spot rates on the Transpacific Headhaul have decreased for the second consecutive week. Prices from Shanghai to New York fell by 10%, now sitting at $2,922 per FEU, while rates from Shanghai to Los Angeles dropped 7% to $2,172. With fewer blank sailings expected next week, capacity is likely to increase, prompting Drewry to predict a slight easing of rates.
Asia–Europe Rates Rise for the Sixth Week
The Asia–Europe corridor is seeing rates continue to climb. Spot rates from Shanghai to Genoa increased by 6%, reaching $2,319 per FEU, and rates from Shanghai to Rotterdam went up by 8% to $2,193. Carriers are trying to push these rates even higher by announcing FAK increases to between $3,100 and $4,000 per FEU starting December 1, ahead of the annual contract negotiations.
Outlook Suggests Possible Weakening
Drewry’s Container Forecaster is predicting a weaker supply–demand balance in the upcoming quarters, especially if normal routing through the Suez Canal resumes.
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Source: Drewry
