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Drewry's Intra-Asian Container Index (IACI) recorded a 6% increase this week, reaching USD 1,028 per 40-foot container and hitting its highest level in the last six weeks.
"This rebound represents the second consecutive weekly rise for the industry benchmark and responds to a market tightening caused by a combination of adverse weather conditions in East Asia and persistent geopolitical instability in the Middle East," the consultancy reported.
"The severe impact on maritime traffic in China was exacerbated by Typhoon Dolphin, the third and most powerful to hit the country in the last five weeks, which forced vessels to seek shelter and led to the temporary suspension of port operations," it added.
As a result, approximately 2.4 million TEUs of container ship capacity are awaiting outside Chinese ports, with average delay times of 87 hours in Shanghai and 36 hours in Ningbo.
"This congestion boosted spot rates to Southeast and South Asia, highlighting the Shanghai–Jawaharlal Nehru route with a 33% increase (up to USD 2,353 per 40-foot unit), as well as increases to Singapore (+8%, reaching USD 1,096) and Jakarta (+5%, standing at USD 1,533)," Drewry informed.
Concurrently, return routes from Southeast Asia to China – which usually show stable behavior – experienced notable price increases due to operational disruptions in the region, led by the Ho Chi Minh–Shanghai route with a 14% increase (USD 74) and Laem Chabang–Shanghai with 6% (USD 234).
"Adverse weather conditions also caused logistical incidents such as the collapse of containers onto cranes in Taiwan's Keelung port. The cost scenario in the region is also supported by rising fuel prices and the resurgence of hostilities between the United States and Iran, along with recent attacks on vessels that keep the sector cautious," the entity specified.
"Given this outlook, Drewry expects freight rates to stabilize in the coming weeks, although it warns that a further escalation in regional tensions could put additional upward pressure on transport costs," it concluded.
