Six-Week Container Spot Rate Rally Runs Out of Steam

The six-week rally in global container freight rates has come to an end, with the latest reading from the Drewry World Container Index (WCI) showing a 3% decline to $2,246 per 40-foot container.

The pullback follows a sharp run-up driven by rising bunker fuel costs in the wake of late-February disruptions tied to the Middle East conflict. After weakening through January and early February, rates surged as oil markets reacted to supply shocks linked to instability around the Strait of Hormuz. That momentum has now reversed.

Across the major east–west trades, spot rates softened. Shanghai–New York rates fell 3% to $3,552 per