The World Container Index fell 6% from the previous week to $2,119 per FEU in Week 35, down 59% year-on-year.
This marked the 11th straight week of decline, with further decreases expected in the weeks ahead.
Rate volatility began after the U.S. announced new tariffs in April, triggering a surge from May to early June. Rates then plunged through mid-July and have continued to weaken since.
Spot rates in Trans-Pacific slid last week, with Shanghai–Los Angeles down 3% ($80) to $2,332 per FEU and Shanghai–New York down 5% ($172) to $3,291 per FEU.
The early peak season, fueled by U.S. retailers’ accelerated purchasing, has ended. With a slowing US economy and higher tariff costs, importers are now reducing orders more cautiously.
Drewry expects further declines on this route.
In Asia–Europe rates also fell, with Shanghai–Rotterdam dropping 10% ($312) to $2,661 per FEU and Shanghai–Genoa down 5% ($136) to $2,842 per FEU. Despite steady demand and port delays in Europe, excess vessel capacity continues to pressure rates downward.
Drewry forecasts continued softening in the coming weeks.
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