DATA from Drewry's World Container Index (WCI) reveals a continued sharp decline in spot rates on major container shipping routes, particularly between Asia and the US west coast, reports London's Port Technology International.
According to industry commentator Lars Jensen, "The WCI spot rates from Drewry showed continued sharp decline on Asia-USWC with an almost US$1,000/FEU weekly drop.
"However, this still means the level is roughly $1,000/FEU above the spot rate seen just before the US/China tariff pause. It also means that the WCI index is, thus far, seeing less of a decline from the peak rate than what until now has been recorded by the SCFI."
Asia-US east coast rates are also falling, but at a slower pace than the USWC. Despite a drop of around $1,600 over the past two weeks, rates on this route remain $2,000 higher than before the tariff pause.
Meanwhile, the Asia-North Europe spot rate continues a very slow increasing trend over the past four weeks.
In contrast, the Asia-Mediterranean rate has stabilised, staying at a plateau just above $4,000/FEU for the same period.
Drewry's latest figures confirm this pattern. The composite WCI dropped nine per cent to $2,983/FEU, with the Shanghai-Los Angeles rate falling by $961 to $3,741 and Shanghai-New York dropping by $881 to $5,703 per container.
Despite these declines, rates remain well above pre-tariff levels.
https://www.shippingazette.com/news?news_id=9250700000011
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