Global shipping consultancy Drewry has adjusted its World Container Index (WCI) downward by one percent in week 31.
According to the Japan International Freight Forwarders Association, this marginal decrease suggests that spot freight rates may finally be stabilising after a prolonged period of volatility.
Shipping rates had surged between May and early June, largely driven by the United States' announcement of new tariffs on Chinese goods in April.
However, that momentum quickly subsided, with spot rates beginning to fall sharply by mid-July. While the decline was initially steep, the rate of decrease has since moderated.
On the transpacific trade lane, spot rates continued to ease.
The Shanghai-Los Angeles route saw a 2% decrease (equivalent to $43), bringing the rate down to $2 632 per forty-foot equivalent unit (FEU).
Similarly, rates from Shanghai to New York also dipped by 2% ($75), settling at $4 135 per FEU.
With the suspension of higher US tariffs on Chinese imports set to expire in mid-August, shipping lines are beginning to withdraw capacity. An increasing number of sailings across the Pacific are being cancelled, as the pre-tariff rush abates.
The maritime research firm anticipates reduced rate volatility in the coming weeks, with a more balanced supply-demand dynamic emerging.
Meanwhile, the Asia-Europe trade routes remained stable. Rates from Shanghai to Rotterdam held steady at US$3 200 per FEU, while the Shanghai-Genoa rate was unchanged at US$3 362 per FEU.
On the transatlantic corridor, rates from New York to Rotterdam remained firm at $876 per FEU. However, the Rotterdam-New York leg experienced a modest 1% decline ($27), with rates settling at $2 006 per FEU.
