Freight Rates Slump for 8th Week, 6% of Sailings Axed

According to Drewry data, the global container shipping market is currently grappling with multiple difficulties and continues to face significant pressure. Recently, against a backdrop of complex geopolitical factors, the global trade landscape is constantly reshaping. Frequent changes in trade policies, including tariff adjustments and the addition of trade barriers, have severely disrupted stable cargo sources and transportation route planning for container shipping .

6% of Major Sailings Blanked
Between Week 33 (August 11-17) and Week 37 (September 8-14), 43 out of 720 scheduled sailings on major east-west trade routes are expected to be canceled, representing a blank sailings rate of 6% . Most of the canceled sailings are on the eastbound trans-Pacific route (49%), followed by Asia-Northern Europe and Mediterranean routes (33%), and the westbound trans-Atlantic route (19%) . During this period, 94% of the scheduled weekly services are expected to operate as planned .

Freight Rates Extend Decline for Eighth Consecutive Week
Freight rates continue to face downward pressure. As of August 7, the Drewry World Container Index (WCI) fell for the eighth consecutive week, dropping 3% week-on-week to $2,424 . Rates on the trans-Pacific route decreased by 6%, while rates on the Asia-Europe/Mediterranean route saw a slight increase of 2%. The trans-Atlantic route remained unchanged. Further softening of rates is expected .

This market unpredictability began after the US announced tariffs in April, which initially led to a surge in freight rates from May to early June . Subsequently, the market experienced a significant decline until mid-July, after which the pace of the downturn slowed considerably .

Spot Rate Performance on Key Routes
Spot rates on the Pacific route declined this week. The rate from Shanghai to Los Angeles decreased by 4% to 2,534 per forty-foot container (FEU), and the rate from Shanghai to New York fell by 7% to 3,826 per FEU . With the peak season for cargo transportation now over, Drewry expects spot rates to remain relatively stable in the coming week .

The supply-demand balance is anticipated to worsen again in the second half of 2025, leading to a contraction in spot rates . The volatility and timing of these rate changes will depend on future US tariff policies and the capacity adjustments resulting from potential US measures against Chinese-built vessels, all of which remain highly uncertain .