Drewry: World Container Index Up 3% Last Week

The World Container Index (WCI), a globally recognized benchmark widely used by procurement teams, experienced a 3% increase to $4,485 per 40ft container last week, primarily driven by higher rates on the Asia-Europe trade route. On the Transpacific route, Shanghai to Los Angeles saw a 3% rise to $7,884 per 40ft container, while Shanghai to New York rates dropped 1% to $10,075 per unit.

Drewry's Container Capacity Insight reported six blank sailings announced for the upcoming week, the same as this week, suggesting stable capacity. US import demand remains robust, contributing to elevated rates. Drewry anticipates rates to remain relatively stable next week.

On the Asia-Europe route, rates from Shanghai to Rotterdam surged 6% to $3,522 per 40ft container, while rates to Genoa increased 7% to $3,945 per unit. Previously, there had been a decline for 13 consecutive weeks. The resumption of Suez Canal transits and fewer blank sailings are adding capacity to the route. After a period of declining rates, carriers are trying to push prices higher through FAKs ranging from $4,500–$4,800 per 40ft container, set to take effect on October 19th. However, the success of these FAKs is uncertain due to increased capacity.

The East-West container freight market rebounded after the Golden Week holiday as cargo flows resumed. Strong US import demand continues to support Transpacific rates, and the return of vessels to the Suez Canal is increasing capacity on the Asia-Europe route. Shippers can expect rate volatility as post-holiday demand recovery, capacity adjustments, and geopolitical uncertainties impact market conditions.

For spot market container freight rate information on additional routes, Drewry's Container Freight Rate Insight (CFRI) service provides comprehensive data covering 6,700 global port pairs, updated monthly (with 2,450 updates occurring every two weeks).