Global Freight Rate Update, July 31, 2025

According to Drewry, the World Container Index declined marginally this week, with five of the eight major routes holding steady.

Drewry’s World Container Index (WCI) declined only 1% this week, and continued to stabilise after a volatile period. The unpredictability began after US tariffs were announced in April, which caused rates to surge from May through early June.

Subsequently, the market saw a heavy decline until mid-July, after which the downward trend lost momentum and the rate of decrease slowed considerably.

Transpacific spot rates fell this week, as rates on Shanghai–Los Angeles were down 2% ($2,632/feu) and those on Shanghai–New York also slid 2% ($4,135/feu).

With a temporary halt on higher US tariffs for Chinese products ending in mid-August, shipping lines are cutting back on services across the Pacific by cancelling more sailings. Since the big rush to ship cargo before the tariff increase is now over, Drewry expects spot rates to remain less volatile in the coming week.

Drewry’s Container Forecaster expects the supply-demand balance to weaken again in 2H25, which will cause spot rates to contract. The volatility and timing of rate changes will depend on Trump’s future tariffs and on capacity changes related to the introduction of US penalties on Chinese ships, which are uncertain.

The above-mentioned freight rates per container are effective as of July 31, 2025 and contain all applicable costs such as bunker adjustment fees (baf) and currency adjustment fees (caf).