THE DREWRY World Container Index (WCI), remained stable at $4,465 per 40ft container, as the increase in Transpacific trade routes was offset by a decrease in the Asia–Europe trade routes.
Source: Drewry World Container Index
Source: Drewry World Container Index
The Asia–Europe trade route saw a decrease in spot rates this week, with rates from Shanghai to Genoa falling 10% to $4,368 per 40ft container and from Shanghai to Rotterdam decreasing 5% to $4,092 per 40ft container. According to Drewry’s Container Capacity Insight, blank sailings are set to drop from four this week to just one next week, injecting more capacity into the market. With cargo demand softening, Drewry expects spot rates to experience a modest decline next week.
Ocean carriers are ramping up transits through the Suez Canal, with capacity set to surge as services return. Rerouting via the Cape of Good Hope on the headhaul carries severe cost penalties and extended lead times, placing carriers at a steep competitive disadvantage.
Geopolitical risks in the Middle East remain elevated, with continued attacks on commercial ships adding further disruption to the Strait of Hormuz. Chinese ports remain constrained as Typhoon Saudel struck the country, adding to elevated congestion following a series of recent typhoons. Meanwhile, Panama Canal drought restrictions are limiting capacity to 34 daily transits in early September and 32 later in the month, with Neo-Panamax capacity capped at nine slots per day.