November 2026 has begun with largely calm conditions in spot container freight rates. Drewry’s World Container Index, released on 5 November, shows a slight decline of 1% in the composite index, which tracks rates across the routes surveyed, to $4,389 per FEU from $4,429 the previous week. The fall was mainly driven by transpacific routes and, within the Asia–Europe trade, services to northern European ports. Drewry attributes this to easing congestion and weaker demand at Chinese ports.
On the transpacific trade, rates from Shanghai to New York fell by 3% to $9,303 per FEU, while Shanghai–Los Angeles rates were unchanged at $7,539. On the return leg from Los Angeles to Shanghai, rates fell by 2% to $817. Congestion that had persisted for several weeks at major Chinese ports has begun to ease: as weather conditions improved and demand slowed, average vessel waiting times at Shanghai fell to 35 hours in the week before the report. Drewry’s Container Capacity Insight service lists three blank sailings for the following week, compared with five in the current week. With available capacity set to increase, Drewry expects rates to fall further.
Between Asia and Europe, Shanghai–Rotterdam rates fell by 2% to $3,615 per FEU, while Shanghai–Genoa rates remained stable at $4,166. Carriers are introducing FAK rate increases in mid-November to strengthen their position ahead of negotiations on 2027 contracts. However, effective capacity continues to grow as the resumption of Suez Canal transits shortens voyages and frees up vessels. Five blank sailings have been announced for the following week, compared with eight in the current week, and Drewry questions whether the increases will hold given the ample capacity available. On the Atlantic, New York–Rotterdam rates rose by 3% to $1,172, while Rotterdam–New York rates fell by 1% to $3,062. Rotterdam–Shanghai rates increased by 1% to $654.
Turning to crisis areas affecting container shipping, 60% of capacity deployed between Asia and Europe now uses the Suez Canal, which recorded 53 vessel transits in both directions in the week before the report. Drewry nevertheless highlights a risk for shippers: an accelerated return to this route could cause vessels arriving via Suez to coincide with those sailing around the Cape of Good Hope, leading to bunched arrivals and cargo congestion at European ports. The situation in the Strait of Hormuz remains uncertain following a fresh round of limited US strikes against Iran. On the US west coast, a possible strike by security personnel at the ports of Los Angeles and Long Beach could cause further disruption to shipments.
M.G.
