25.08.04WCI Declines 1% in Week 31

Drewry's World Container Index (WCI) declined only 1% in Week 31 and continued to stabilize after a volatile period.

Unpredictability began after U.S. tariffs were announced in April, which caused rates to surge from May through early June. Subsequently, the market saw a heavy decline until mid-July, after which the downward trend lost momentum, and the rate of decrease slowed considerably.

Trans-Pacific spot rates fell in Week 31, with those from Shanghai to Los Angeles being down 2% ($43) to $2,632 per FEU and from Shanghai to New York down 2% ($75) to $4,135 per FEU. With a temporary halt on higher U.S. tariffs for Chinese products ending in mid-August, shipping lines are cutting back on services across the Pacific by cancelling more sailings. Since the big rush to ship cargo before the tariff increase is now over, Drewry expects spot rates to remain less volatile in the coming week.

Meanwhile, Asia-Europe spot rates were stable. Those from Shanghai to Rotterdam and to Genoa remained unchanged at $3,200 per FEU and $3,362 per FEU, respectively. On the trans-Atlantic trade, spot rates from New York to Rotterdam stayed flat at $876 per FEU, while those from Rotterdam to New York decreased a minute 1% ($27) to $2,006 per FEU.