DREWRY'S World Container Index (WCI) decreased 2% to $1,806 per 40ft container. The decline was primarily due to reduced rates on the Transpacific and Asia–Europe trade routes.
Source: Drewry World Container Index
Spot rates on the Transpacific headhaul route continue to decrease for the third consecutive week, with rates from Shanghai to New York falling 6% to $2,735 per 40ft container and rates to Los Angeles reducing 4% to $2,089. According to Drewry’s Container Capacity Insight, blank sailings on the Transpacific trade are expected to decrease next week, which could increase available capacity. Consequently, Drewry anticipates a slight softening in rates next week.
Source: Drewry World Container Index
After 6 weeks of continuous increase, spot rates on the Asia–Europe trade route decreased this week with rates from Shanghai to Genoa and Rotterdam falling 1% this week, to $2,300 and $2,165 per 40ft container. Carriers on this trade route are attempting to raise spot rates by implementing higher FAK levels, ranging from $3,100 to $4,000 per 40ft container, effective 1 December. This move is aimed at boosting spot rates ahead of the upcoming annual contract negotiation season.
The national strike in Belgium has disrupted port operations and increased congestion at the Port of Antwerp. This congestion is expected to worsen as a few carriers are planning to return to the Suez Canal route, which will further strain port efficiency, leading to longer delays and surging spot rates.
Drewry’s Container Forecaster expects the supply-demand balance to weaken in the next few quarters, particularly if normal Suez Canal transits resume.