Container freight rates: WCI composite falls 3% as trans-Pacific peak finally eases

Key takeaways

The Drewry WCI composite was assessed at $4,429 per 40 foot container for the week to 29 October, down 3% from the prior week. Trans-Pacific rates broke their peak: Shanghai to Los Angeles fell 6% to $7,514 and Shanghai to New York eased 5% to $9,631. Asia Europe held firm, with Shanghai to Rotterdam up 1% and Shanghai to Genoa flat. The NRF forecasts US ocean import volumes down 11% month over month in November. Carriers announced six trans-Pacific blank sailings for next week, keeping supply tight even as demand softens. Illinois and California port labor is the watch item: a Los Angeles and Long Beach watchmen unit authorized a strike that could begin 1 November. The Drewry W…