The Drewry World Container Index (WCI) fell by 3.3% week-on-week this week (as of July 24), reaching approximately $2,517/FEU.
Recently, the Drewry World Container Index declined for the sixth consecutive week, with a 3.3% drop this week, indicating that the surge in U.S. imports following the temporary suspension of tariff hikes did not have the lasting impact initially anticipated.
Spot rates on the trans-Pacific route fell this week. Rates from Shanghai to Los Angeles dropped by 5%, while rates from Shanghai to New York declined by 7%. As the temporary tariff exemption period for Chinese imports is set to end in mid-August, carriers have begun reducing trans-Pacific services by blanking sailings. With the peak period of front-loading shipments ahead of tariff increases now over, Drewry expects spot rates on this trade lane to continue falling next week.
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 decline in spot rates. The extent and timing of rate 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.
