Drewry World Container Index rises as Transpacific rates climb

The Drewry World Container Index (WCI) rose by 1% for the second consecutive week, reaching US$4,339 per 40-foot container as of August 13. This increase was primarily driven by rising spot rates on Transpacific trade routes.

Specifically, rates from Shanghai to New York jumped 10% to US$8,706, while Shanghai to Los Angeles rates increased by 6% to US$6,244. Shipping carriers have been actively restricting capacity through blank sailings, with 10 cancellations recorded in each of the last two weeks and seven more planned for the upcoming week. Consequently, Drewry expects Transpacific rates to experience less volatility as capacity tightens.

In contrast, Asia-Europe routes saw a decline. Shanghai to Genoa spot rates fell 8% to US$5,080, and Shanghai to Rotterdam rates dropped 5% to US$4,425. While some carriers have announced new Freight All Kinds (FAK) rates for the Asia-Mediterranean trade starting August 15, weakening demand has raised questions regarding the sustainability of these price levels.