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Ocean Spot Rates Retreat as Peak Season Winds Down

Container spot rates from Asia to the US declined this week following China's Golden Week holiday, signaling the end of the extended transpacific peak season. The Shanghai-Los Angeles route fell 3% week-on-week to $7,624 per 40ft, while Shanghai-New York dropped 2% to $10,220 per 40ft, according to Drewry's World Container Index. Asia-Europe routes extended their losing streak to 13 consecutive weeks as contracting season accelerates. Falling short-term rates are strengthening the negotiating position of European shippers entering tender season. This allows them to benchmark against spot market weakness during long-term contract talks. Analysts note that while demand remains robust year-to-date, the easing from record levels has reduced capacity competition. Freight forwarders are now securing improved terms from carriers as the market normalizes from unsustainably high growth rates.