The composite index developed by Drewry, the World Container Index (WCI), contracted by 2%, settling at $1,806 per 40-foot container this week.
“Spot rates on the headhaul transpacific route continue to fall for the third consecutive week, with rates from Shanghai to New York falling 6% to $2,735 per 40-foot container and rates to Los Angeles decreasing 4% to $2,089,” reported Drewry.
“Cancellations of voyages (blank sailings) in the transpacific trade are expected to decrease next week, which could increase available capacity. Consequently, Drewry anticipates a slight softening of rates next week,” it added.
After six weeks of continuous increases, spot rates on the Asia-Europe route decreased this week, with rates from Shanghai to Genoa and Rotterdam falling 1% to $2,300 and $2,165 per 40-foot container, respectively.
“Carriers on this route are attempting to raise spot rates by implementing higher FAK levels, ranging from $3,100 to $4,000 per 40-foot container, effective from December 1. This measure seeks to boost spot rates ahead of the upcoming annual contract negotiation season,” noted the consultancy.
Regarding the national strike in Belgium, which has disrupted port operations and increased congestion at the Port of Antwerp, it is expected that “this congestion will worsen, as some carriers plan to return to using the Suez Canal route, which will further strain port efficiency, leading to greater delays and an increase in spot rates,” noted Drewry.
“Drewry’s Container Forecaster expects the supply and demand balance to weaken in the coming quarters, particularly if normal transits through the Suez Canal resume,” it concluded.
