The Drewry World Container Index (WCI) fell by 2.6% this week (as of July 17) compared to the previous week, reaching approximately $2,602/FEU.
Source: Drewry Supply Chain Advisors
Recently, the Drewry World Container Index has declined for the fifth consecutive week, with a 2.6% drop this week. This indicates that the surge in U.S. imports following the temporary halt in tariff increases did not have the lasting impact initially anticipated.
This week, spot rates on the trans-Pacific routes continued to fall. Specifically, rates from Shanghai to Los Angeles dropped by 4% to $2,817/FEU, while rates from Shanghai to New York fell by 6% to $4,539/FEU. However, compared to 10 weeks ago, rates on these routes remain elevated. Relative to May 8, rates from Shanghai to Los Angeles are still 4% higher, while rates to New York are up by 24%. Drewry expects spot rates on these routes to continue declining due to persistently weak demand.
Source: Drewry Supply Chain Advisors
According to Drewry’s *Container Forecaster* report, the supply-demand balance is likely to weaken again in the second half of the year, leading to another drop in spot rates. The extent and timing of these fluctuations will depend on the direction of Trump’s tariff policies and potential capacity adjustments triggered by the U.S. “Section 301” investigation into China, both of which remain uncertain.
