Container Spot Rates Fall as Capacity Growth Pressures Freight Rates

Spot container freight rates continued to ease this week as additional vessel capacity and softer demand weighed on the world’s major east-west trade lanes, according to the latest Drewry World Container Index.

The benchmark index, widely tracked by shippers and procurement teams, fell 4% this week to $4,374 per 40-foot container, marking a second consecutive weekly decline.

The biggest weakness remained on the transpacific trades. Rates from Shanghai to Los Angeles dropped 6% to $5,878 per FEU, while Shanghai to New York declined 4% to $7,598 per FEU.

Drewry attributed the declines to increased capacity entering the market alongside easing demand. The consultancy said six blank sailings are