Drewry’s World Container Index (WCI) has risen for the first time in four weeks, increasing 1 per cent to $4,297 per 40-foot container as Transpacific spot rates strengthened.
The 6 August assessment ended three consecutive weeks of decline in the composite index. Drewry attributed the increase to higher rates on Transpacific services as cargo volumes remained firm into August.
The index had stood at $4,255 per 40-foot container on 30 July, when it fell 3 per cent amid declining rates across both Asia-Europe and Transpacific routes.
In the latest assessment, spot rates from Shanghai to New York rose 4 per cent to $7,893 per 40-foot container, while Shanghai to Los Angeles increased 3 per cent to $5,894.
Drewry said carriers had implemented general rate increases as volumes held up, while congestion across central and southern China continued to constrain available capacity and provide additional support to freight rates.
Capacity conditions on the Transpacific remained relatively stable. Drewry’s Container Capacity Insight showed eight blank sailings scheduled for the following week, unchanged from the current week.
The consultancy said this indicated stable available capacity and expected volatility in rates to ease in the coming week.
Conditions were flatter on Asia-Europe routes. Shanghai to Genoa spot rates fell 2 per cent to $5,506 per 40-foot container, while Shanghai to Rotterdam remained unchanged at $4,653.
Three blank sailings were recorded during the week on the Asia-Europe trade lane, with the same number scheduled for the following week. Drewry said carriers were continuing to manage available capacity and expected rates on the trade to remain stable in the near term.
READ: Carriers use blank sailings to curb market supply
The latest assessment comes amid continued volatility across the East-West container freight market. Drewry pointed to Middle East tensions, new US tariffs and congestion at Asian ports as factors influencing conditions.
The consultancy said renewed hostilities between Iran and the US in late July had increased uncertainty around shipping through the Strait of Hormuz. Several carriers have introduced emergency fuel surcharges from August.
Carriers have also continued to manage capacity through blank sailings and service adjustments as demand and operating conditions shift across major trade lanes.
Drewry said global trade policy uncertainty, geopolitical developments and port congestion are expected to continue influencing freight rates in the coming weeks.
The WCI assesses spot freight rates across eight major East-West container trades.
