Drewry's latest World Container Index (WCI) shows global freight rates have fallen for a third consecutive week, with prices dropping 5.7% to an average of $2,812 per 40ft container. This downward trend signals cooling demand, particularly for US-bound cargo, and follows a temporary surge in imports after US tariff suspensions.
© Ricardokuhl | Dreamstime
Drewry noted, 'This decline is a direct result of the low demand for US-bound cargo and is a sign that the recent surge in US imports, which occurred after the temporary halt of higher US tariffs, will not have the lasting impact we had initially expected.'
Rates on key routes saw significant shifts. The Shanghai–Los Angeles route saw the steepest fall, with spot rates plunging 15% to $3,180 per 40ft container. However, despite the weekly drop, prices on this lane remain 17% higher than they were eight weeks ago. Similarly, rates from Shanghai to New York fell 11% to $5,070 but remain up 39% over the same period.
In Europe, rates from Shanghai to Genoa declined by 9% to $3,751, while the Shanghai–Rotterdam route was the exception, climbing 8% to $3,468.
Looking ahead, Drewry's analysts expect the downward pressure to persist. 'Drewry expects spot rates to continue to decline next week as well due to excess capacity and weak demand.' The firm also warns of further volatility in H2 2025, depending on evolving US-China trade policy: 'The volatility and timing of rate changes will depend on Trump's future tariffs and on capacity changes related to the introduction of the US penalties on Chinese ships, which are uncertain.'
© Drewry
More information:
Drewry
www.drewry.co.uk