Drewry Intra-Asia Container Index steady at $555/40ft
Drewry’s Intra-Asia Container Index (IACI) experienced minimal fluctuation in the third week of February, decreasing by only $2 to $555 per 40ft container. This represents a 10% year-on-year decline compared to the same period in the previous year.
The IACI serves as a weighted average of spot rates across 18 significant intra-Asia trade lanes, encompassing major markets in Northeast Asia (Japan, China, South Korea, Taiwan), Southeast Asia (Indonesia, Malaysia, Philippines, Thailand, Vietnam), and Southwest Asia (India, UAE). It is important to note that terminal handling charges are excluded from this index.
Several key trade routes demonstrated rate stability:
* Busan to Shanghai: $47 per FEU
* Ho Chi Minh City to Shanghai: $50 per FEU
* Jakarta to Shanghai: $54 per FEU
* Shanghai to Yokohama: $780 per FEU
* Yokohama to Shanghai: $115 per FEU
However, some routes registered minor decreases:
* Shanghai to Jawaharlal Nehru: down 2% to $800 per FEU
* Shanghai to Singapore: down 9% to $655 per FEU
* Shanghai to Tanjung Pelepas: down 2% to $1,124 per FEU
Drewry anticipates that freight rates will likely remain at current low levels in the immediate future. A recovery is projected following the Lunar New Year period, driven by the resumption of production activities and the subsequent buildup of backlogs.
The IACI is updated weekly and provides a valuable benchmark for actual spot container freight rates within Asia. This data is sourced from Drewry and has been reported by the Japan International Freight Forwarders Association (JIFFA).