The Drewry World Container Index (WCI) increased after three consecutive weeks of decline. The benchmark rose by 1% to US$4,297 per 40-foot container. Higher Transpacific spot rates supported the increase. Transpacific rates increase Spot rates from Shanghai to New York rose by 4% to US$7,893 per 40-foot container. Meanwhile, Shanghai to Los Angeles rates increased by 3% to US$5,894 per 40-foot container. Carriers successfully implemented General Rate Increases as cargo volumes remained firm into August. Moreover, port congestion across central and southern China continued to restrict capacity. According to Drewry’s Container Capacity Insight , carriers have scheduled eight blank sailings for next week. The number remains unchanged from this week, indicating stable available capacity. As a result, Drewry expects rate volatility to ease during the coming week. Asia-Europe rates remain stable Spot rates on the Asia-Europe trade remained broadly stable. Shanghai to Genoa rates declined by 2% to US$5,506 per 40-foot container. However, Shanghai to Rotterdam rates remained unchanged at US$4,653. Carriers recorded three blank sailings on the Asia-Europe trade this week. They have scheduled the same number for next week. Therefore, Drewry expects Asia-Europe rates to remain stable during the coming week. Market uncertainty continues The East-West container freight market remained volatile amid Middle East tensions, new US tariffs and congestion at Asian ports. Iran and the United States resumed hostilities in late July. Consequently, uncertainty increased over shipping through the Strait of Hormuz. Several carriers also introduced Emergency Fuel Surcharges from August. Meanwhile, shipping lines continued to manage capacity through blank sailings and service changes. Drewry expects trade policies, geopolitical developments and port congestion to influence freight rates in the coming weeks. The post Drewry WCI rebounds after three-week decline appeared first on Container New