Intra-Asia Container Rates Slide as Pre-Lunar New Year Demand Softens

Intra-Asia container shipping rates have fallen 10% over the past fortnight as volumes weaken ahead of Chinese New Year. Drewry’s Intra-Asia Container Index recorded average rates of US$596 per 40 ft container on 30 January, excluding terminal handling charges — down 28% year-on-year from US$828 in mid-January 2025. The Shanghai-Jawaharlal Nehru route saw the steepest drop, down 24% to US$883 per 40 ft container, while the Busan-Shanghai lane corrected 13% over the same period. China’s new steel export licensing regime, which took effect on 1 January, may be adding uncertainty to regional cargo flows. The system requires exporters to obtain permits for some 300 steel products — the first such administrative controls since 2009. January PMI data from the China Steel Logistics Committee showed the new export order index fell to 37.9%, down 3.1 percentage points month-on-month, with the committee citing the licensing requirements as a factor in slowed order processing.