The decline marks the first weekly drop in the Drewry World Container Index since late April, ending a 10-week run of rising spot freight rates.
Global container spot freight rates recorded their first weekly decline since late April, with lower pricing reported on several major shipping routes.
Drewry's World Container Index fell 2% last week, ending 10 consecutive weeks of increases. The decline came one week after the index reached its highest level since September 2024.
The index fell to US$4,547 per 40-foot container for the week ended July 16, down from US$4,639 the previous week.
Rates from Shanghai to Los Angeles decreased 3% to US$6,272, while rates from Shanghai to New York held steady at US$7,879. On the Asia–Europe trade route, rates from Shanghai to Genoa fell 3% to US$6,300, while Shanghai-to-Rotterdam rates declined 1% to US$4,873.
Despite the weekly decline, the index stayed above pre-pandemic levels. At US$4,547, it was about 220% higher than Drewry's 2019 average of US$1,420 per 40-foot container, and roughly 56% below the pandemic-era peak of US$10,377, which was recorded in September 2021.
On the Asia–Mediterranean trade route, CMA CGM had announced FAK rates of US$7,900 to US$8,500 per 40-foot container effective July 15. However, Drewry reported that carrier-announced increases within that range did not hold during the week.
Nine blank sailings, or cancelled voyages, were scheduled on the transpacific trade route for the following week, reducing available capacity. With front-loading ahead of the U.S. tariff deadline easing, Drewry expects carrier capacity management to keep spot freight rates broadly stable this week.
At Cole International, we offer trade consulting and freight forwarding services to help Canadian businesses navigate changing freight rates and manage shipping schedules and requirements.
Reach out to one of our trade professionals to discuss how changing container spot rates could affect your shipping costs and freight planning.