- Transpacific rates rise on carrier GRIs.
- Asia–Europe rates fall on vessel oversupply.
- Drewry expects further Asia–Europe declines.
Drewry’s World Container Index (WCI) found its footing this week after a lengthy 11-week slide. This stabilisation came about due to mixed movements in trade lanes; a notable spike in Transpacific spot rates was balanced out by a drop in Asia–Europe rates, reports Drewry.
Transpacific Rates on the Rise
Transpacific spot rates saw an uptick as carriers rolled out General Rate Increases (GRIs). Specifically, rates from Shanghai to Los Angeles jumped 8% to $2,522 per FEU, while those from Shanghai to New York soared 12% to $3,677 per FEU. Even with the Golden Week approaching in China, Drewry suggests that these rates might not hold steady without additional capacity reductions, and they anticipate a period of stability in the near future.
Asia–Europe Rates Take a Hit
On the flip side, Asia–Europe spot rates took a downturn this week. Rates from Shanghai to Rotterdam fell 10% to $2,385 per FEU, and Shanghai to Genoa saw a 7% decrease to $2,653 per FEU. Drewry pointed to an increasing surplus of vessel capacity as the main culprit for this decline, despite healthy demand in Europe and ongoing port delays. The consultancy foresees further drops in the weeks ahead.
Looking Ahead to the Second Half of 2025
As we gaze into the future, Drewry’s Container Forecaster predicts that the global supply-demand balance may weaken again in the latter half of 2025, which could put downward pressure on spot rates. However, the speed and unpredictability of these rate changes will hinge on two significant uncertainties, the potential for Trump’s tariffs and possible U.S. penalties on Chinese vessels, both of which could significantly alter capacity and trade dynamics.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Drewry
