Drewry WCI falls 5% after 4-week gain as Transpacific rates slide

The steepest drops were recorded on the Transpacific headhaul routes from Asia to North America. Spot rates from Shanghai to New York fell 15 per cent to $3,254 per 40ft container, while Shanghai to Los Angeles declined 12 per cent to $2,328 per 40ft container.

Analysts attribute the correction to waning post-holiday demand and the fading impact of recent General Rate Increases (GRIs) imposed by carriers to temporarily stabilise prices.

In contrast, Asia–Europe routes saw modest gains. Spot rates from Shanghai to Genoa rose 4 per cent to $2,193, while those from Shanghai to Rotterdam increased 3 per cent to $2,028 per 40ft box. On the transatlantic lane, rates from New York to Rotterdam were up 2 per cent at $884, whereas Rotterdam to New York eased 2 per cent to $1,633. Rates between Rotterdam and Shanghai remained unchanged at $461, and Los Angeles to Shanghai held steady at $716 per 40ft container.

Carriers on the Asia–Europe corridor are attempting to bolster spot rates by introducing higher FAK (Freight All Kinds) tariffs ranging from $3,000 to $3,650 per 40ft box, effective November 15, ahead of the upcoming annual contract negotiations.

Drewry’s Container Forecaster expects the supply–demand balance to weaken in the coming quarters, particularly if normal Suez Canal transits resume, which could place further downward pressure on freight rates as additional capacity returns to key trade lanes.

ALCHEMPro News Desk (KUL)