Drewry WCI further falls 1%, Transpacific rates less volatile

Spot rates on the Transpacific trade lane remained relatively stable this week, reflecting a seasonal slowdown during China’s Golden Week holidays. Rates from Shanghai to Los Angeles decreased 1 per cent to $2,176 per 40-foot container, while those from Shanghai to New York remained unchanged at $3,189 per 40-foot container.

Spot rates on the Asia–Europe trade lane recorded their ninth consecutive weekly decline, approaching levels seen before the Red Sea attacks. The spot rate for a 40-foot container dropped 2 per cent to $1,577 from Shanghai to Rotterdam and 1 per cent to $1,793 from Shanghai to Genoa. Drewry expects rates to continue falling in the coming week.

Freight rates on the Rotterdam–Shanghai route eased 2 per cent to $449 per FEU. Rates on the Rotterdam–New York route declined 2 per cent to $1,759 per FEU, while those on the New York–Rotterdam route were down 2 per cent to $830 per FEU. However, rates rose 1 per cent on the Los Angeles–Shanghai route to $716 per FEU.

Drewry’s Container Forecaster anticipates that the supply-demand balance will weaken in the coming quarters, leading to further contraction in spot rates.

ALCHEMPro News Desk (KUL)