- Index posts 16th consecutive weekly decline.
- Shanghai–Los Angeles rates fall 5% to $2,196.
- Shanghai–New York rates slip 2% to $3,200.
Drewry’s World Container Index (WCI) took a dip this week, dropping by 5% to settle at $1,669 for a 40ft container. This marks the 16th week in a row that we’ve seen a decline, hitting the lowest point since January 2024, reports Drewry.
Trade Lane Spot Rates
Spot rates on key East–West routes are still on the decline:
- Shanghai–Los Angeles: down 5% to $2,196 for a 40ft container
- Shanghai–New York: down 2% to $3,200 for a 40ft container
- Shanghai–Rotterdam: down 7% to $1,613 for a 40ft container
- Shanghai–Genoa: down 9% to $1,804 for a 40ft container
This marks the 10th consecutive week of falling spot rates between Asia and Europe.
Carrier Strategies and Market Outlook
In response to the weaker demand leading up to China’s Golden Week holiday, carriers are ramping up blank sailings and cutting back on capacity. Factories will be closed for eight days starting October 1st, which means we can expect East–West spot rates to keep dropping in the weeks ahead. Drewry’s Container Forecaster anticipates that the supply-demand balance will weaken over the next few quarters, which could lead to even lower spot rates.
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Source: Drewry
