Drewry’s World Container Index fell 6% to $2,119 per 40ft

Drewry's World Container Index (WCI) declined for the 11th consecutive week, and it is expected to continue falling in the coming weeks. The volatility began after U.S. tariffs were announced in April, which caused rates to surge from May through early June. However, they fell thereafter until mid-July and have continued to decline up to this week.

Transpacific spot rates decreased this week. Rates on Shanghai–Los Angeles fell 3% to $2,332/feu, while those on Shanghai–New York dropped 5% to $3,291/feu. The phase of accelerated purchasing by U.S. retailers, which had induced an early peak season, has ended. In response to a slowing U.S. economy and increased tariff costs, retailers are now scaling back procurement at a measured pace. Drewry expects rates on this trade lane to continue declining in the coming weeks.

Asia–Europe spot rates also fell. Rates on Shanghai–Rotterdam declined 10% to $2,661/feu, while rates on Shanghai–Genoa slid 5% to $2,842/feu. Despite healthy demand and port delays in Europe, a growing surplus of vessel capacity is pushing down spot rates on this trade lane. Drewry predicts further declines in the coming weeks.

Drewry's Container Forecaster expects the supply-demand balance to weaken again in the second half of 2025, causing spot rates to contract. The volatility and timing of changes will depend on future U.S. tariffs and on capacity adjustments linked to potential penalties on Chinese ships, both of which remain uncertain.