Global container shipping rates declined this week as persistent rate pressures on key Transpacific routes offset efforts by carriers to stabilize pricing ahead of the annual contract negotiation season, according to Drewry’s latest market assessment.
The Drewry World Container Index fell 2% to $1,806 per 40-foot container for the week ending November 27, marking the third consecutive week of decline on the critical Transpacific headhaul trade. Rates from Shanghai to New York dropped 6% to $2,735 per container, while shipments to Los Angeles fell 4% to $2,089.
“The decline was primarily due to reduced rates on the Transpacific and Asia–Europe trade routes,” according to the index report. The softening comes as blank sailings—scheduled voyages that carriers cancel to manage capacity—are expected to decrease next week on Transpacific routes, potentially increasing available capacity and further pressuring rates.The Asia-Europe corridor, which had seen six consecutive weeks of rate increases, also turned downward this week. Spot rates from Shanghai to Genoa and Rotterdam each fell 1% to $2,300 and $2,165 per container respectively.
Despite the weekly decline, carriers operating on the Asia-Europe route are attempting to reverse the trend by implementing higher Freight All Kinds (FAK) rates ranging from $3,100 to $4,000 per container, effective December 1. The timing is strategic, coming just ahead of the annual contract negotiation season when shippers and carriers hammer out longer-term pricing agreements.
A separate factor threatening to disrupt European operations is the ongoing national strike in Belgium, which has created congestion at the Port of Antwerp. Drewry warns the situation could worsen as several carriers plan to resume transits through the Suez Canal route, potentially straining port efficiency and driving spot rates higher through increased delays.
Looking ahead, Drewry’s Container Forecaster expects the supply-demand balance to weaken in coming quarters, particularly if normal Suez Canal operations resume. The forecast suggests current rate pressures may persist as the industry navigates seasonal demand shifts and ongoing geopolitical uncertainties affecting major shipping lanes.
