By Gavin van Marle (The Loadstar) – In mid-November, freight prices continued to rise, boosting container shipping rates on routes between Asia and Europe this week.
According to Drewry's World Container Index (WCI), the rate for shipping from Shanghai to Rotterdam increased by 8% compared to the previous week, reaching $2,193 for a 40ft container. Meanwhile, the Shanghai-Genoa route saw a 6% rise, ending at $2,319 for the same size container.
Drewry has also cautioned that new freight all kinds (FAK) rates proposed by shipping companies, set to take effect on December 1, could lead to further increases in the next two weeks.
“Carriers along the Asia-Europe route are attempting to raise spot rates by introducing higher FAK rates between $3,100 and $4,000 per 40ft, starting December 1, in an effort to boost rates ahead of the new annual contract negotiation season,” the analyst explained.
However, the Shanghai Containerised Freight Index (SCFI), which often predicts next week’s WCI trends, reported a 3.5% decrease this week for spot rates on the Shanghai-North Europe route, finishing at $2,734 for a 40ft container. This suggests that there may be downward pressure for the rest of the month.
One freight buyer between Asia and Europe shared with The Loadstar that some carriers have already started to lower their December FAK rates. For instance, “MSC has reduced its proposed increase for December, with new rates advertised at $2,215, plus a global fuel surcharge (GFS) of $79 per twenty-foot container.”
This aligns with new data from Xeneta, which indicated that capacity for the Far East to North Europe route rose by 4.8% week over week, while the Far East-Mediterranean route's capacity increased by 8.7% over the same period.
“Average spot rates from the Far East to both North Europe and the Mediterranean have gone up compared to a week ago, with increasing capacity available, suggesting strong demand on these routes,” stated Peter Sand, chief analyst at Xeneta.
In contrast, the Asia-North America routes have experienced consistent declines in spot rates, with figures from November 15 showing General Rate Increases (GRIs) of $1,000 to $3,000 for a 40ft container failing to impact prices positively.
“There are notable differences in the performance of container shipping from the Far East to Europe versus the US, which is shaping the outlook for 2026,” Mr. Sand added.