Ports

Intra-Asia Rates Dip Slightly After Post-Covid Peak

Container freight rates across intra-Asia lanes declined marginally this week despite remaining significantly elevated. The Drewry Intra-Asia Container Index fell 1% to $1,503 per 40ft, halting six consecutive weeks of increases. Year-over-year gains reached 209%, underscoring persistent strength in the market. Rates from Greater China to regional destinations softened during the Golden Week holiday period, though network adjustments and operational constraints limited declines. Shanghai-Laem Chabang, Manila, and Yokohama rates fell 3% to $1,690, $1,027, and $1,052 per 40ft respectively. Longer routes remained under pressure, with Shanghai-Jebel Ali rates holding firm at $8,662 per 40ft amid Middle East disruptions. Vessel bunching at Shanghai and Ningbo ports, with average waiting times of three and two days respectively, cascaded congestion to South and Southeast Asian hubs. Shanghai-Singapore and Shanghai-Tanjung Pelepas rates increased 2% to $2,123 and $2,100 per 40ft respectively. Brent crude trading above $100 per barrel since early September sustained elevated fuel surcharges. CMA CGM introduced a $75 per teu emergency fuel surcharge on all intra-regional trades on 1 October.