Ports

Container Rates Hold Firm as Carriers Manage Capacity Ahead of Peak Season

Spot freight rates on major east-west container routes remained stable this week. Transpacific lanes showed resilience despite broader market softness, with Shanghai-Los Angeles rates climbing 2% to $7,352 per 40ft container and Shanghai-New York routes rising 1% to $9,726 per 40ft, according to the World Container Index. Carriers plan eight blanked sailings to counter weakening demand and support price levels. The market increasingly resembles an extended peak season that started earlier than typical, with rates expected to remain elevated through September. Supply chain disruptions from four typhoons in seven weeks created significant export cargo backlogs at major Chinese ports, where vessels face up to 12-day waits for berthing slots. The upcoming Golden Week holiday is anticipated to play a crucial role in clearing accumulated shipments.