The Drewry World Container Index (WCI) fell 1% to $1,933 per forty-foot container (FEU), the fifth consecutive weekly decline, as rates continue to weaken on benchmark trade routes from Asia to the United States and Europe.
The London-based analyst said spot rates from Shanghai to major U.S. ports declined 1% from the previous week due to lower cargo volume, to $2,214 per FEU to Los Angeles and $2,800 to New York.
To balance capacity amid weak demand ahead of factory closures for China’s Lunar New Year, Drewry said carriers announced 57 blank sailings over the next two weeks on the trans-Pacific trade lane to the U.S. East and West Coasts – “much higher than in previous years. Hence, we expect spot rates on this trade to decline slightly in the coming weeks.”
Blankings are scheduled sailings that are postponed or cancelled, and can play havoc with carefully-planned shipping logistics that depend on coordinated connections across the supply chain.
Sharply weaker rates cut against expectations of rising demand and increasing spot rates ahead of Lunar New Year. But demand peaked earlier than usual as shippers manage an unsettled global trade outlook and widespread economic uncertainty. Normal seasonal patterns could further depress rates, Drewry said.
Spot rates usually apply to on-demand freight as shippers seek transport at the last-minute or to accommodate changes to scheduled services, but also serve as an indicator for higher-volume contract prices. Shippers and carriers are currently negotiating 2026 agreements.
Spot rates on the Asia-Europe trades also continued their decline. Rates on Shanghai to Rotterdam, Europe’s busiest container gateway, decreased 2% to $2,127 per FEU, while Shanghai-Genoa, Italy dropped 3% to $2,965.
Drewry said carriers have announced 24 blank sailings on the Asia-Europe/Mediterranean trade routes over the next two weeks due to ongoing market volatility and Lunar New Year. The analyst expects spot rates on this trade to decrease slightly in the coming weeks.
Read more articles by Stuart Chirls here.
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