The Drewry World Container Index (WCI) fell by 5.7% week-on-week to approximately $2,812/FEU as of July 3.
Recently, the Drewry World Container Index declined for the third consecutive week, dropping by 5.7% this week, primarily due to weak cargo demand on U.S. routes. This suggests that the earlier surge in U.S. imports, triggered by the temporary halt in tariff increases, did not have the lasting impact initially anticipated.
Key Freight Rate Trends:
• Shanghai to New York: Spot rates fell 11% last week to $5,070/FEU but remain 39% higher than eight weeks ago (May 8).
• Shanghai to Los Angeles: Rates dropped 15% this week to $3,180/FEU but are still 17% above the level from eight weeks ago (May 8).
• Shanghai to Genoa rates declined 9% to $3,751/FEU, while Shanghai to Rotterdam rates rose 8% to $3,468/FEU.
According to the latest forecast from Drewry’s *Container Shipping Market Outlook*, 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.
