World Container Index declines again as weak demand pressures freight rates

The Drewry World Container Index (WCI) recorded its second consecutive weekly decline, falling by 1% to $2,232 per 40ft container on April 23, 2026, as market conditions remain under pressure.

The latest drop was mainly driven by softer rates on the Asia–Europe trade, where weak seasonal demand and excess capacity continue to weigh on pricing. Rates from Shanghai to Genoa fell 8% to $3,071 per 40ft container, while rates to Rotterdam declined 4% to $2,147 per 40ft container.

Despite ongoing geopolitical tensions in the Middle East and the introduction of war-risk surcharges, carriers have struggled to maintain rate increases. Limited capacity adjustments have also contributed to the downward trend, with only a small number of blank sailings announced on the Asia–Europe route.

In contrast, the Transatlantic trade saw strong gains. Spot rates increased by 15% to $2,326 per 40ft container, supported by capacity reductions and the implementation of peak season surcharges introduced in mid-April.

The Transpacific trade also showed upward movement. Rates from Shanghai to Los Angeles rose 4% to $2,934 per 40ft container, while rates to New York remained stable at $3,562 per 40ft container. Carriers have announced multiple blank sailings in an effort to better align capacity with demand.

Market conditions in the Middle East continue to impact global shipping. Disruptions around the Strait of Hormuz have limited vessel movements, although fuel prices, while still elevated, have eased slightly from recent highs.

Overall, the market remains under pressure, with weak demand continuing to outweigh cost increases, including higher bunker prices and additional surcharges. Drewry expects freight rates to remain relatively stable in the short term, with limited volatility in the coming weeks.

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