Ports

Container Rates Plunge as Peak Season Ends; Rate Hikes Face Headwinds

Transpacific eastbound container spot rates experienced their sharpest weekly decline since June 2025 as the prolonged peak shipping season concluded. Drewry's World Container Index recorded Shanghai-Los Angeles rates falling 6% week-on-week to $7,514 per 40ft, while Shanghai-New York declined 5% to $9,631 per 40ft. Weakening U.S. import demand is driving the downturn. The National Retail Federation forecasts U.S. ocean import volumes will decrease 11% month-on-month in November, putting further downward pressure on freight rates. Despite softer pricing conditions, U.S. forwarders described the market as stable rather than collapsing, with improved vessel schedule consistency and better space availability offsetting demand softness. Industry observers view carrier general rate increases scheduled for November 1, ranging $2,000 to $3,000 per 40ft, as unlikely to hold given demand erosion and holiday shipment migration to air cargo.