Original Coverage & Source Attribution: www.freshplaza.com
Global container freight indexes move lower in the latest weekly readings, with Transpacific rate gains slowing sharply and Asia-Europe rates continuing to fall. Drewry’s World Container Index declines 1% to US$4,434 per 40-foot container, the Freightos Baltic Index falls 1% to US$3,343, and the Shanghai Containerized Freight Index eases 0.66% to 3,662.30 points. The China Containerized Freight Index moves against the trend, rising around 0.3% to 1,923.93 points.
On the Transpacific, NYSHEX Freight Index data shows Asia-US West Coast rates increasing 1.89% to 7,557.37, a significant slowdown from the 4.82% rise recorded the previous week. Asia-US East Coast is nearly flat, edging up just 0.03% to 9,695.31 after a 5.75% gain in the prior reading. Drewry’s assessment broadly aligns, with Shanghai-Los Angeles broadly unchanged at US$7,835 and Shanghai-New York up only 1% to US$10,428.
Asia-Europe continues to weaken across all indexes. The NYSHEX Asia-North Europe reading falls another 3.58% to 3,468.58, extending a decline that has taken the route from 4,603.04 in early August to its current level, a drop of approximately 25%. Drewry records Shanghai-Rotterdam down 2% to US$3,399 and Shanghai-Genoa down 3% to US$3,702. According to Drewry, Asia-Europe spot rates have now declined for 12 consecutive weeks.
Drewry points to increasing effective capacity on Asia-Europe as more vessels transit the Suez Canal, with Suez transits in Week 39 reported 68% higher year on year. This additional supply continues to pressure rates even as carriers manage capacity through blank sailings.
The Transatlantic market moves higher in both directions in the latest NYSHEX readings, with the westbound leg up 9.20% to 2,723.29 and eastbound climbing 7.25% to 1,184.57.
The FBX decline follows a 1% drop the previous week to US$3,380.40, extending a gradual downward move in the global benchmark. No new Ningbo Containerized Freight Index reading is published this week due to China’s National Day holiday, so the previous reading is not treated as a new weekly observation.
Drewry notes that Transpacific demand remained resilient ahead of the Golden Week holiday period, though the shutdown and shifts in available capacity could affect the next round of spot-rate readings. Asia-Europe faces continued pressure from the higher volume of Suez Canal transits, which adds effective capacity to the trade even as carriers attempt to manage supply.
