DREWRY'S World Container Index continued its months-long slide, decreasing a further 1% to $1,651 per 40ft container this week.
Source: Drewry World Container Index
The Drewry World Container Index (WCI) fell 1% to $1,651 per 40ft container, marking the 17th consecutive weekly decline to reach the lowest level since January 2024.
Source: Drewry World Container Index
Spot rates on the Transpacific trade lane remained less volatile this week, reflecting a seasonal slowdown during China’s Golden Week holidays. Spot rates from Shanghai to Los Angeles decreased 1% to $2,176 per 40ft container, while those from Shanghai to New York remained stable at $3,189 per 40ft container.
Spot rates on the Asia-Europe trade lane have recorded their ninth straight weekly decline, approaching levels prior to the Red Sea attacks. The spot rate for a 40-foot container is now at $1,577 from Shanghai to Rotterdam (a 2% drop) and $1,793 from Shanghai to Genoa (a 1% drop). Drewry expects rates to continue to decline in the coming week.
Drewry’s Container Forecaster expects the supply-demand balance to weaken in the next few quarters, which will cause spot rates to contract.