According to Japan International Freight Forwarders Association (JIFFA), Drewry’s World Container Index (WCI) fell 3% last week to US$2,044 per FEU, marking the 13th straight weekly decline. Rates are now 51% lower than a year ago.
Trans-Pacific lanes moved higher. Rates from Shanghai to Los Angeles rose 6% to US$2,678 per FEU, and Shanghai to New York climbed 2% to US$3,743 per FEU. Drewry said the gains came after several carriers announced GRIs but warned the increases may not hold without capacity cuts.
Asia-Europe lanes dropped sharply. Shanghai to Rotterdam fell 10% to US$2,143 per FEU, while Shanghai to Genoa plunged 12% to US$2,342 per FEU. New vessel deliveries have pushed capacity higher, while demand remains weak.
Carriers are adding blank sailings ahead of China’s Golden Week holiday starting Oct. 1. Drewry expects rates on Asia-Europe routes to slip slightly in the coming weeks.
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