Container

The container shipping market experienced a relatively subdued week, with the Baltic Exchange’s four main east-west trades recording an average decline of 0.52%.

Transpacific rates edged lower, with China/US West Coast falling 0.77%, while the East Coast remained unchanged. Asia–Europe rates also weakened slightly, with North Europe down 0.53% and the Mediterranean declining 0.79%. More broadly, spot rates remain under pressure, particularly on the Transpacific trades, where relatively subdued demand is making it increasingly difficult for carriers to maintain pricing levels.

Carriers continue to manage available capacity through blank sailings in an effort to limit further rate reductions. There are also attempts to introduce higher rates and surcharges during the second half of November, although it remains to be seen whether these increases can be sustained. Attention will now turn to booking levels as the market moves towards the end of the year, with carriers looking to build momentum ahead of the traditional pre-Lunar New Year shipping period. The extent to which demand improves will be an important factor in determining whether freight rates can stabilise or face further downward pressure.