The Drewry Intra-Asia Container Index (IACI) increased 6% this week to US$1,402 per 40-foot container, reaching a record high for the fourth consecutive week. Geopolitical developments, typhoon-related disruption, and capacity constraints continued to affect intra-Asia shipping.
Spot rates from China to Southeast and South Asia increased ahead of the Chinese Golden Week holiday. Rates from Shanghai to Laem Chabang rose 15% to US$1,324 per 40-foot container, while Shanghai to Ho Chi Minh City increased 15% to US$1,161.
© Drewry
Rates from Shanghai to Jebel Ali increased 13% to US$8,509 per 40-foot container. Rates also increased on alternative routes through Jawaharlal Nehru Port.
Weather-related disruption continued to affect vessel schedules and port congestion in China. In week 37, average vessel waiting times at Shanghai reached 78 hours, up 13 hours week on week. Waiting times at Ningbo reached 77 hours, an increase of 11 hours from week 36.
Beibu Gulf Port Group has completed a test river-sea voyage through the Pinglu Canal ahead of its opening. The route reduces transit time to two hours compared with two days through the Pearl River Delta and is intended to support container...