Container shipping rates also continued to rise this week, a sign of strong U.S. import demand and declining carrier capacity. Drewry’s World Container Index (WCI) rose 2% to $4,585 per 40-foot container, lifted by higher prices on the trans-Pacific and Asia-Europe trades.
Trans-Pacific: demand doing the heavy lifting
Trans-Pacific rates from Shanghai to Los Angeles rose 2% to $8,007 per 40-ft container. Shanghai-New York rose 1 percent to $10,166. Drewry expects prices to remain unchanged on these routes next week, with US import demand continuing to support the market despite better availability of capacity.
The extra capacity comes from fewer canceled voyages. According to Drewry’s Container Capacity Insight, carriers have announced only two blank sailings on the trans-Pacific for next week, down from six this week. The service monitors scheduled and canceled sailings, effective capacity and port congestion on the major trade lanes.
Asia Europe: carriers go in opposite directions
“Trade bound for Europe is going the other way. Shanghai-Rotterdam rose 3% to $3,632 per 40-foot container and Shanghai-Genoa climbed 5% to $4,152. Carriers have announced eight blank sailings next week, compared to two this week. Space cuts are being used to try to push up freight rates, and Drewry forecasts a small increase in Asia-Europe prices as a consequence.
Risky Gulf, Clear Ports
The capacity cuts come amid easing congestion at major Asian ports. Shanghai vessel waiting times dropped from 97 hours in Week 38 to 38 hours in Week 42, indicating a marked improvement in port operations.
Security risks and attacks on ships continue to hamper movement in the Persian Gulf. Only two containerships entered the Gulf in Week 42, compared with five the previous week. Traffic moved slightly in the other direction through the Suez Canal, with sailings rising from 54 in Week 41 to 55 in Week 42.
Why it matters: The increase is a sign of continued cost pressure for importers, even with easing congestion at major Asian ports. Trans-Pacific rates are supported by strong demand from the U.S. and Asia-Europe carriers are canceling more sailings to tighten space and support pricing. Thus, shippers’ costs depend on both cargo demand and carriers’ capacity decisions.
