The Global Container Index (WCI), recognized as an independent reference for index-based contracts, reached $4434 for a 40-foot container on October 1, 2026, indicating a 1% decrease compared to last week. This decline is mainly due to falling rates on the Asia-Europe trade route.
Developments in Trade Routes
On the trans-Pacific trade route, rates from Shanghai to New York increased by 1% to $10428 for a 40-foot container. Meanwhile, rates from Shanghai to Los Angeles remained unchanged at $7835. Shipping companies continue to manage capacity by canceling voyages. According to the container capacity report, 10 canceled voyages have been announced for next week, down from 13 canceled voyages this week, indicating an increase in capacity. However, demand has remained steady, and factories in China will be closed due to the Golden Week holidays, which could lead to a decrease in cargo volume. Therefore, rates are expected to decline next week.
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Status of Rates on the Asia-Europe Route
On the Asia-Europe route, rates from Shanghai to Genoa have decreased by 3% to $3702 for a 40-foot container. Additionally, rates from Shanghai to Rotterdam have decreased by 2% to $3399 for a 40-foot container. These rates have declined for 12 consecutive weeks on the Asia-Europe route, indicating weak demand. According to the container capacity report, five canceled voyages have been announced for next week, down from six canceled voyages this week, meaning a slight increase in planned capacity.
Furthermore, increased vessel traffic in the Suez Canal has added effective capacity to this trade and put further downward pressure on rates. Shipping companies are introducing higher FAK rates to reverse the downward trend in rates in the second half of October, following the Golden Week holidays in China. However, the success of these increases remains uncertain. Rates are expected to decline next week amid the Golden Week holidays.
The East-West container shipping market remains under pressure as China's Golden Week has begun and factory closures have impacted cargo flow. On the other hand, increased vessel traffic in the Suez Canal adds more capacity to the Asia-Europe trade, while uncertainty regarding Houthi activities continues. Traffic in the Suez Canal in week 39 has increased by 68% compared to the same week last year. Disruptions in the Strait of Hormuz also affect shipping operations. A long-term trade agreement between the U.S. and China may help demand related to U.S. cargoes after the holiday period. Overall, the market is expected to remain volatile in the short term, with changes in demand, capacity, and geopolitical developments significantly impacting shipping rates.
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