Global shipping consultancy Drewry has reported a 9% weekly drop in its World Container Index (WCI), bringing the cost of a 40ft container to $2,983, as declining US-bound cargo demand continues to disrupt market momentum.
© MichailPetrov | Dreamstime
This marks the second consecutive week of decline, following a five-week surge that had raised expectations of a sustained rebound. Drewry attributes the downturn to 'low demand for US-bound cargo,' noting: 'The recent surge in imports to the US, which occurred after the temporary halt of higher US tariffs, will fail to have the lasting impact we had initially expected.'
The most significant declines were recorded on the Shanghai–New York and Shanghai–Los Angeles routes. Freight rates to New York dropped 13% to $5,703, while those to Los Angeles fell 20%, though both remain significantly higher than earlier in the quarter, up 56% and 38% respectively since early May.
In contrast, freight rates from Shanghai to Europe showed slight resilience. Rates to Rotterdam and Genoa rose 1%, reaching $3,204 and $4,100 per 40ft container.
Looking ahead, Drewry's latest Container Forecaster signals further challenges for the industry in the second half of 2025. 'We expect the supply-demand balance to weaken again in 2H25, which will cause spot rates to decline,' the report warns. However, the outlook remains uncertain and will be influenced by 'the outcome of legal challenges to Trump's tariffs and on capacity changes related to the introduction of the US penalties on Chinese ships.'
© Drewry
More information:
Drewry
enquiries@drewry.co.uk
www.drewry.co.uk