The global container shipping market experienced a marked downward correction in the third week of January 2026. On 22 January, Drewry’s World Container Index composite stood at 2,212 dollars per 40-foot container, down 10% week on week and 36% compared with the same period last year. This marks the second consecutive double-digit decline, against a backdrop of weak demand and a gradual rebalancing of available capacity.
According to Drewry’s analysis, the main driver behind the contraction is the seasonal slowdown following the peak linked to the Chinese New Year, which has had a direct impact on outbound volumes from Asia. This is compounded by operational choices made by the main carriers, which are seeking to curb excess supply through increased blank sailings and a cautious approach to redeploying vessels on the most congested routes. In the background, uncertainty remains over transits through the Suez Canal, with diverging strategies among operators: some companies continue to favour routes around Africa, while others are assessing partial resumptions of transits, with as yet limited effects on effective capacity.
On China–Europe routes, the picture appears particularly weak. The average spot rate on the Shanghai–Rotterdam leg fell to 2,510 dollars per FEU, down 9% from the previous week and 27% year on year. Higher, but also declining, was the Shanghai–Genoa rate, at 3,520 dollars, down 8% week on week and 23% compared with a year earlier. Downward pressure reflects both the contraction in outbound cargoes from China and operational uncertainty linked to transit times and indirect costs associated with longer routes. In this context, return legs continue to trade at much lower levels: the Rotterdam–Shanghai rate stands at 502 dollars, with a limited 2% weekly decline and a 3% annual fall, confirming structurally weak demand on the Europe–Asia backhaul.
The correction is even more pronounced on transpacific routes between China and the United States, which recorded the sharpest declines across the entire index in the latest week. The Shanghai–Los Angeles rate dropped to 2,546 dollars, down 12% week on week and 47% year on year. On the US East Coast, the Shanghai–New York rate stood at 3,191 dollars, down 11% compared with the previous week and 50% against twelve months earlier, effectively halving in value. These figures underline how the rebalancing between capacity and demand remains far from finding a stable equilibrium, despite containment measures adopted by carriers. Here too, return routes show greater resilience: the Los Angeles–Shanghai rate is 705 dollars, down 4% week on week and just 2% year on year, pointing to dynamics that have now consolidated at minimum levels.
Different, though not without challenges, is the trend on the transatlantic market between the European Union and the United States. European exports to the US East Coast continue to suffer from slowing demand and intense competition among carriers. The Rotterdam–New York rate fell to 1,570 dollars, down 4% week on week and 43% year on year. More stable is the reverse route, New York–Rotterdam, which stands at 983 dollars, down a marginal 1% week on week but up 20% compared with the same period in 2025. This is the only lane in the Drewry basket showing a positive year-on-year performance, confirming relatively firmer demand from North America to Europe, albeit at still modest absolute levels.
Comparing the main weekly movements, transpacific and Asia–Europe routes are the most exposed to downward volatility, while return legs and some transatlantic services show greater resilience. According to Drewry, freight rates may continue to decline in the coming weeks, with carriers inclined to reintroduce capacity gradually in order to test market response and avoid a further deterioration in spot rates. The evolution of routes and operational choices will therefore remain central for logistics operators navigating an environment that is still unstable and rapidly changing.
