The composite index developed by Drewry, the World Container Index (WCI), contracted by 1%, settling at $1,651 per 40-foot container this week. This marks 17 consecutive weeks of declines and reaches the lowest level since January 2024.
“Spot rates on the transpacific trade route remained less volatile this week, reflecting a seasonal slowdown during the Golden Week holidays in China,” the consultancy reported.
Spot rates from Shanghai to Los Angeles decreased by 1%, settling at $2,176 per 40-foot container, while those from Shanghai to New York remained stable at $3,189 per 40-foot container.
Meanwhile, Drewry pointed out that “spot rates on the Asia-Europe trade route have recorded their ninth consecutive weekly fall, approaching levels seen before the Red Sea attacks.”
Thus, the spot rate for a 40-foot container currently stands at $1,577 from Shanghai to Rotterdam (a 2% drop) and at $1,793 from Shanghai to Genoa (a 1% contraction).
Drewry estimates that rates will continue to decrease during the next week. Furthermore, it forecasts that the balance between supply and demand will weaken in the coming quarters, which will lead to a contraction in spot rates.
