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Container Index Falls 1% as Trans-Pacific Rates Slip

The Drewry World Container Index declined to $4,473 per forty-foot container this week, driven by softening spot rates across major east-west corridors. Shanghai-to-New York rates dropped 2% to $9,333, while Shanghai-to-Los Angeles held steady at $6,818. Asia-Europe lanes also weakened, with Shanghai-Genoa falling 2% to $4,866 and Shanghai-Rotterdam decreasing 3% to $4,287. Carriers reduced blank sailings to four for the coming week from seven currently, signaling increased capacity on trans-Pacific routes. However, Asia-Europe capacity remains tighter with four blank sailings scheduled next week versus two this week. Port congestion at Shanghai intensified significantly, with vessel wait times surging to 96 hours from 35 hours previously. Despite geopolitical tensions and Rhine river constraints, Drewry anticipates rate stability across major routes next week. Uncertainty surrounding the Strait of Hormuz persists, while carriers have begun cautiously resuming Suez Canal transits after conducting improved security assessments.