Drewry: Intra-Asia Container Index Slightly Higher Last Week
Drewry’s Intra-Asia Container Index (IACI) strengthened this week to $970 (+1%) per 40ft container supported by the ongoing conflict in the Middle East. This marked the end of the index’s six-week decline, with freight rates rising across most trade lanes, except on the Shanghai–Kaohsiung and Shanghai–Laem Chabang routes, where rates recorded notable declines. See detailed ...
The Drewry Intra-Asia Container Index (IACI) rose by 1% to $970 per 40-foot container last week, ending a six-week decline. This increase was driven by the ongoing conflict in the Middle East, which pushed rates on routes connecting China with Southeast Asia and South Asia higher. Rates from Shanghai to the Jawaharlal Nehru Port and Jebel Ali increased by 8% and 7% respectively, while rates from Shanghai to Laem Chabang fell by 23% and Kaohsiung declined by 7%.
Port congestion in Laem Chabang and Kaohsiung contributed to shorter vessel waiting times. However, Typhoons Noul and Bavi continued to cause vessel delays, particularly in southern and eastern China. Drewry expects freight rates to remain stable in the coming weeks, with spot rates on South Asia and Southeast Asia trade routes remaining steady.
Additionally, a new butterfly service by Pilgrims' Pride Line (PIL) will be launched in early September, connecting Thailand and Indonesian ports via the straits.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
