ports

Container Rates Fall Further as Carrier Discounting Intensifies

Spot freight rates continued their downward trajectory this week across major container trades. Carriers offered aggressive discounts despite relatively constrained capacity. The Shanghai-Rotterdam leg fell 3% week-on-week to $4,677 per 40ft, while Shanghai-Genoa weakened 6% to $5,630 per 40ft, according to Drewry's World Container Index. Linerlytica reported carriers quoting rates below $5,000 per 40ft as support for August rate increases erodes. The Shanghai Containerised Freight Index suggests further declines ahead, with North Europe and Mediterranean spot rates down 4% against the prior week. Industry observers note carriers are deploying blank sailings to manage capacity and prevent additional rate deterioration. Three blank sailings are scheduled on Asia-Europe routes next week, compared with four this week. Demand continues moderating across major tradelanes.