News
Drewry's World Container Index (WCI) fell 2.6% from the previous week to $2,602 per FEU in Week 29, marking its fifth consecutive weekly decline. From a year earlier, the index plunged 56%.
This ongoing downturn follows an earlier period of volatility triggered by higher U.S. tariffs announced in April. The market reaction to the tariffs lagged by a month, with rates beginning to climb in May and surging through the first week of June. However, this trend has since reversed, with rates falling consistently since mid-June, indicating that the tariff's initial market impact was not sustained.
Tran-Pacific spot rates fell in Week 29, with those on the Shanghai–Los Angeles trade down 4% ($2,817 per FEU) and on the Shanghai–New York trade, down 6% ($4,539 per FEU). However, both lanes remain above their levels from 10 weeks ago, when tariff concerns began driving up rates. Spot rates from Shanghai to Los Angeles were still 4% higher, while those from Shanghai to New York were 24% higher than on May 8.
Drewry expects spot rates on this trade lane to continue to decline due to weak demand.
