Drewry’s World Container Index increased by 2% to $4,585 per 40-foot container, with gains across trans-Pacific and Asia-Europe services, FreightWaves reported. Strong US import demand and reductions in carrier capacity supported freight pricing, maintaining pressure on importers’ transport costs despite an easing of congestion at major Asian ports.
On the trans-Pacific, the Shanghai-Los Angeles rate climbed 2% to $8,007 per 40-foot container, while the Shanghai-New York assessment advanced 1% to $10,166. Drewry expects rates on the trade to hold steady next week, with US import demand providing support even as more capacity becomes available. The outlook contrasts with Asia-Europe, where further cancellations are expected to help lift rates.
According to Drewry’s Container Capacity Insight figures cited by FreightWaves, carriers have announced two blank trans-Pacific sailings for next week, compared with six this week. The service monitors scheduled and cancelled departures, effective capacity and port congestion on major trade routes. The lower cancellation count accompanies the increase in available capacity anticipated on the trans-Pacific.
Asia-Europe rates also moved higher, with Shanghai-Rotterdam gaining 3% to $3,632 per 40-foot container and Shanghai-Genoa rising 5% to $4,152. Carriers have announced eight blank sailings on the trade for next week, against two this week. Those cancellations will restrict available space as carriers seek higher freight rates, and Drewry forecasts a modest increase in Asia-Europe pricing next week.
The capacity reductions come alongside improved port conditions in Asia. Vessel waiting times at Shanghai dropped to 38 hours in Week 42 from 97 hours in Week 38, FreightWaves reported. Elsewhere, security threats and attacks on shipping continued to disrupt vessel movements through the Persian Gulf: two containerships entered the Gulf in Week 42, compared with five a week earlier. Suez Canal sailings edged up to 55 in Week 42 from 54 in Week 41.