The Drewry World Container Index (WCI), the benchmark widely referenced by procurement teams, rebounded after three consecutive weeks of decline, edging up 1% to $4,297 per 40ft container. The increase was supported by higher rates on Transpacific trade routes.
On the Transpacific trade route, spot rates from Shanghai to New York rose 4% to $7,893 per 40ft container, while rates from Shanghai to Los Angeles increased 3% to $5,894 per 40ft. Carriers successfully implemented GRIs as volumes held firm into August. Meanwhile, port congestion across central and south China continued to constrain capacity, providing further support to freight rates. According to Drewry’s Container Capacity Insight, eight blank sailings are scheduled for next week, unchanged from this week and indicating stable available capacity in the market. As a result, Drewry expects the volatility in rates to reduce in the coming week.
On the Asia–Europe trade route, spot rates remained stable this week. Freight rates from Shanghai to Genoa fell 2% to $5,506 per 40ft container and those from Shanghai to Rotterdam held steady at $4,653 per 40ft container. According to Drewry’s Container Capacity Insight, three blank sailings were recorded this week and the same number is scheduled for next week on the Asia–Europe trade lane. As carriers continue to manage available capacity, Drewry expects rates to remain stable next week.
Impact of continuing Middle East tensions
The East–West container freight market remained volatile amid Middle East tensions, new US tariffs and congestion at Asian ports. Iran and the US resumed hostilities in late July, increasing uncertainty over shipping through the Strait of Hormuz and prompting several carriers to introduce Emergency Fuel Surcharges (EFS) from August.
Meanwhile, carriers continued to manage capacity through blank sailings and service adjustments. Ongoing uncertainty surrounding global trade policies, geopolitical developments, and port congestion is expected to influence market conditions and freight rate trends in the coming weeks.
(Photo of Bremerhaven by Dreamstime)