Drewry's Intra-Asia Index Rises 6% to USD 1,459 per Container

Drewry's Intra-Asia Container Index (IACI) posted a 6% increase over the past week, reaching USD 1,459 per 40-foot container. According to the consultancy, this relative stability was reflected across most routes, indicating that carriers extended first-half-of-the-month rates into the second half.

Spot rates from Greater China to Northeast, Southeast and South Asia remained largely stable, with the exception of the Shanghai–Busan and Shanghai–Kaohsiung routes. The former rose 14% to USD 1,135 per FEU, while the latter increased 8% to USD 1,313 per FEU. Meanwhile, vessel waiting times increased in Busan (from 23 to 31 hours) and Singapore (from 10 to 12 hours), while they fell in Shanghai, Ningbo and Tanjung Pelepas during Week 42.

The worsening situation in the Middle East kept the Shanghai–Jebel Ali rate elevated at USD 8,451 per 40-foot container. Drewry noted that high fuel costs and tensions between the United States and Iran continued to push rates upward, with Brent crude hovering around USD 100 per barrel since early October. The consultancy highlighted that the intra-Asia market has remained resilient this year, with the index surging 188% year-on-year.

Golden Week allowed ports to clear cargo backlogs and improve schedule reliability, aided by reduced volumes and blank sailings. In addition, Pacific International Lines (PIL) plans to launch its new JKS service on November 5, with fortnightly frequency and two vessels of between 1,900 and 2,600 TEU, calling at Singapore, Laem Chabang and Jakarta, to strengthen its Straits–Indonesia network.