Global container shipping rates have dropped for a fourth consecutive week, according to Drewry's latest World Container Index (WCI), falling 5% to $2,672 per 40ft container.
© Mr.siwabud Veerapaisarn | Dreamstime
'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 on higher US tariffs, will not have the lasting impact we had initially expected,' Drewry stated.
Shanghai to Los Angeles rates fell 8% to $2,931, while Shanghai to New York dropped 5% to $4,839. Despite these weekly declines, both routes have seen gains over the past nine weeks, 8% and 33% respectively. Europe-bound routes also fell: Shanghai to Genoa dropped 7% to $3,491, and Shanghai to Rotterdam decreased 2% to $3,384.
Drewry expects further rate declines next week, driven by 'excess capacity and weak demand.' Looking ahead, its Container Forecaster predicts the supply-demand balance will weaken further in 2H25, with future tariffs and penalties on Chinese ships under the Trump administration likely to shape the rate landscape.
© Drewry
More information:
Drewry
www.drewry.co.uk