The Drewry World Container Index (WCI) fell 5% to $1,669 per 40ft container, marking the 16th consecutive weekly decline and reaching the lowest level since January 2024.
Spot rates from Shanghai to Los Angeles decreased 5% to $2,196 per 40ft container, while those from Shanghai to New York decreased 2% to $3,200 per 40ft container.
Asia–Europe spot rates fell this week again, reducing for the 10th consecutive week, declining 7% ($1,613 per 40ft container) on Shanghai–Rotterdam and 9% ($1,804 per 40ft container) on Shanghai–Genoa.
Carriers are increasing blank sailings and reducing capacity to align with slowing demand ahead of China's Golden Week holiday, when factories will be shut for eight days from 1 October. As a result, East–West spot rates are expected to decrease in the coming weeks.
Drewry's Container Forecaster expects the supply-demand balance to weaken in the next few quarters, which will cause spot rates to contract.
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