The Drewry World Container Index came in at $4,389 per 40ft container this week, down 1% from a week earlier. The drop came mainly from the transpacific and Asia-Europe lanes, as congestion at Chinese ports eased and demand softened.
The US West Coast held steady. Shanghai-Los Angeles spot rates were unchanged at $7,539 per FEU, while Shanghai-New York fell 3% to $9,303 per FEU. Average vessel waiting time at Shanghai improved to 35 hours last week as weather conditions improved and volumes eased, unwinding weeks of port congestion.
Capacity is coming back too. Drewry counts three blank sailings announced for the transpacific next week, down from five this week, lifting effective capacity — and the index compiler expects rates to keep drifting lower next week.
On Asia-Europe, Shanghai-Rotterdam fell 2% to $3,615 per FEU and Shanghai-Genoa held at $4,166 per FEU. Carriers are pushing FAK increases in mid-November to strengthen their hand ahead of next year's contract talks, but the return of Suez Canal transits has shortened voyage times and released extra capacity. Five blank sailings are scheduled for Asia-Europe next week versus eight this week, leaving the increases uncertain.
For shippers moving US-bound cargo, two things are worth watching: US West Coast rates have flattened, so the window to lock in ocean-parcel pricing is not wide; and a possible watchmen's strike at the ports of Los Angeles and Long Beach would hit last-mile pickup and truck delivery, so time-sensitive cargo should carry a buffer.