The Drewry World Container Index (WCI), the benchmark widely referenced by procurement teams, decreased 3% to $4,255 per 40ft container, driven by a decline in rates on Asia–Europe and Transpacific trade routes.
On the Transpacific trade route, spot rates from Shanghai to Los Angeles declined 2% to $5,739 per 40ft container, while rates from Shanghai to New York held steady at $7,578 per 40ft container. Following softening demand and the slowdown in front-loading activity, carriers are actively managing capacity through blank sailings. According to Drewry’s Container Capacity Insight, eight blank sailings are scheduled for next week, up from seven this week, resulting in increased 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 declined 6% to $5,630 per 40ft container from Shanghai to Genoa and decreased 3% to $4,677 per 40ft container on Shanghai to Rotterdam. With demand continuing to ease, carriers are focusing on capacity management through blank sailings to prevent further rate erosion. According to Drewry’s Container Capacity Insight, three blank sailings are scheduled on the Asia–Europe trade lane next week, compared to four this week. As carriers continue to manage available capacity, Drewry expects rates to remain stable in the next week.
The East–West container freight market remained under pressure, as demand continued to soften following the implementation of new US tariff measures. Geopolitical tensions in the Middle East have prompted several carriers to introduce Emergency Fuel Surcharges (EFS) effective from August, while carriers across major trade lanes continue 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 containerships at Port of Baltimore)