Bucket D, price and market structure, frames this shipping story. Container spot rates increased on routes to both United States coasts as cargo volumes stayed firm and port congestion in central and south China constrained available capacity.
European routes moved the other way. Drewry’s World Container Index held Shanghai to Rotterdam at $4,653 per 40 foot container, while Shanghai to Genoa fell 2% to $5,506, extending a fourth week of declines on European trades.
Carriers have cut back plans for August price increases in Europe. CMA CGM reduced its planned rate for Far East to Mediterranean cargo by $900, and Maersk withdrew a peak season surcharge that had been due to take effect on 14 August.
The Shanghai Containerised Freight Index showed stronger conditions across the Pacific. Rates from Shanghai to the United States east coast rose 2.6% to $9,290 per 40 foot container and west coast rates rose 4.1% to $6,484, with general rate increases holding into August.
The split matters for vessel operators and cargo owners because it points to uneven demand and capacity conditions across the two major trades. Drewry recorded three blank sailings this week and three more scheduled next week on the Asia to Europe route, while China port congestion continued to support Pacific freight prices.