Transpacific Gains Offset Asia-Europe Declines, Rates Steady
Global container spot rates held flat as a 5% rise on the Shanghai-Los Angeles lane countered double-digit declines on Asia-Europe routes, according to
Global container shipping spot rates held steady this week, according to Drewry. The Drewry World Container Index (WCI) remained unchanged at $4,465 per 40-foot container for the week ending September 3, as stronger pricing on the Transpacific offset declines on Asia-Europe routes.
Transpacific spot rates strengthened. Rates from Shanghai to Los Angeles rose 5% to $7,185 per 40-foot container. Spot rates from Shanghai to New York increased 3% to $9,587. Drewry expects rates on the trade to remain broadly stable next week as carriers continue to manage available capacity. Six blank sailings have been announced for next week, double the number this week, while cargo demand remains resilient.
Asia-Europe Rates Decline
The picture was weaker on Asia-Europe routes. Shanghai-to-Genoa spot rates fell 10% to $4,368 per 40-foot container. Rates from Shanghai to Rotterdam dropped 5% to $4,092. Drewry expects further modest declines next week as demand softens and carriers add capacity. Blank sailings on the trade are expected to fall from four this week to just one next week.
The source report from gCaptain provides the following comparable spot rate figures:
| Trade Lane | Rate (per 40ft container) | Weekly Change |
|---|---|---|
| Shanghai to Los Angeles | $7,185 | +5% |
| Shanghai to New York | $9,587 | +3% |
| Shanghai to Genoa | $4,368 | -10% |
| Shanghai to Rotterdam | $4,092 | -5% |
Capacity and Routing Shifts
The diverging rate trends come as container shipping faces another period of shifting capacity and routing. Carriers are increasing transits through the Suez Canal. More capacity is expected to return as services shift away from the longer route around the Cape of Good Hope. The Cape diversion carries significantly higher fuel and operating costs while adding days to voyages. This puts services that continue using the route at a competitive disadvantage.
Geopolitical risks in the Middle East remain raise. Continued attacks on commercial shipping are adding to disruption around the Strait of Hormuz.
Operational Disruptions
Weather is also creating problems in Asia. Chinese ports remain constrained after Typhoon Saudel struck the country. This compounds congestion following a series of recent storms.
Conditions at the Panama Canal are adding another capacity constraint. Drought-related restrictions are limiting the waterway to 34 daily transits in early September. This will fall to 32 later in the month. Neopanamax capacity is capped at nine reservation slots per day.
For now, these competing pressures have left Drewry’s global benchmark largely unchanged. Individual trade lanes continue to move sharply in different directions.
