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Early Peak Season Lifts Intra-Asia Container Rates to Two-Year High

Intra-Asia container freight rates have climbed to their highest levels in two years as shippers accelerate orders ahead of the traditional July-October peak season. Drewry's Intra-Asia Container Index recorded rates of $939 per 40-foot container on May 15, up from $918 two weeks prior and 43% higher year-over-year. The Shanghai Containerised Freight Index showed Shanghai-Southeast Asia lanes averaging $570 per teu on May 15, up $7 from May 8 and 31% higher year-over-year. Oil prices remain the primary driver of rate movements, with the Drewry index now 70% above pre-Iran conflict levels. Shippers, uncertain about future increases, are front-loading orders rather than generating additional demand overall. Shipping lines have responded by launching additional intra-Asia services. X-Press Feeders and OOCL introduced a South China-Java service using three 2,900-teu vessels on a 21-day rotation. CMA CGM's CNC Line expanded with fortnightly calls at Kuala Tanjung.