Container spot rates slide for third week as demand weakens

Container spot rates fell for a third consecutive week as pre-Chinese New Year demand weakens, with the Drewry World Container Index dropping 5% to US$2,107/feu.

Transpacific routes led the decline: Shanghai–New York fell 7% to US$2,969/feu while Shanghai–Los Angeles dropped 4% to US$2,442/feu. Asia–Europe followed a similar trajectory, with Shanghai–Rotterdam down 5% to US$2,379/feu and Shanghai–Genoa falling 6% to US$3,293/feu (Drewry).

Carriers are responding with capacity discipline. Drewry’s Container Capacity Insight shows 63 blank sailings announced for February, up from 27 in January.