Shanghai-to-New York container rates rose 7% last week to $10,394 per 40-foot box, nearly triple the $3,743 rate a year ago, according to Drewry’s World Container Index.
Shanghai-to-Los Angeles rates also rose 5% to $7,712, nearly triple last year’s $2,678. The sharp gains come as carriers actively manage capacity into a market that looks increasingly detached from broader demand.
Drewry counts nine blank sailings on transpacific routes for the week after Sept. 17, up from eight, as carriers prepare for China’s Golden Week holiday. It expects transpacific rates to rise only slightly next week.
Asia-Europe rates moved the other way. Shanghai-to-Rotterdam fell 9% to $3,626, while Shanghai-to-Genoa fell 5% to $4,016. Drewry’s global composite, which blends all routes, rose just 1% to $4,500. We covered a similar split between Asia-Europe and Asia-Mediterranean rates in July.
Blank sailings on Asia-Europe routes are also increasing, from one to four.
A second tracker, Xeneta, puts Far East-to-US East Coast rates at $11,259, about 11% below its January 2022 pandemic-era record of $12,683. The two indexes use different methods, so their figures should not be combined. Xeneta’s Peter Sand told FreightWaves that carriers are taking advantage of the current market, but said conditions could start shifting within two to three weeks.
