Intra-Asia container rates edged higher in the week to 29 October, with Drewry's Intra-Asia Container Index (IACI) up $46 to $1,504 per 40ft container1. The index is around 200% higher than a year ago, Drewry said in the same update1. The composite tracks 18 routes, including Shanghai to Singapore, Jakarta, Ho Chi Minh City and Jebel Ali1.
Carriers largely extended the first fortnight's rates into the second, so most lanes were steady2. Underneath that, the market split: rates eased on the biggest hub lanes and kept rising at smaller ports in Vietnam, Indonesia and Thailand2. The yearly comparison has been running near this level. Drewry reported a 188% annual gain in the previous update3. The Loadstar reported a 198% gain on 22 October, referring to the 15 October index4.
Hub lanes ease as China and Singapore clear backlogs
Shanghai to Singapore fell 3% to $1,889 per 40ft and Shanghai to Tanjung Pelepas fell 2% to $2,053 per 40ft2. Drewry said the large Chinese ports and Singapore, the region's main transhipment centre, have absorbed the congestion1.
Waiting times also fell in Week 42 at Shanghai, from 58 to 38 hours, and at Ningbo, from 40 to 34 hours, Drewry said3. At Tanjung Pelepas they fell from 34 to 21 hours3. North Asia still accounted for 35% of global port logjams in late October, according to Linerlytica5.
Secondary ports carry the waiting time risk
Rates from Shanghai to Ho Chi Minh City, Jakarta and Laem Chabang remain very high and are still rising, Drewry said, without publishing the lane levels2. It singled out Jakarta, where limited operational flexibility makes vessel bunching hard to absorb1.
Average vessel waiting time at Ho Chi Minh City rose from 8 to 22 hours over the past fortnight, as of Week 431. That figure is Drewry's own, and the update did not publish comparable waiting times for Jakarta or Laem Chabang1.
Other trackers point the same way. Linerlytica said ports across South-east and South Asia remain under pressure from vessel bunching, as services returning through the Suez Canal converge with ships still sailing round the Cape of Good Hope5. The Loadstar reported that the disruption has delayed some ships by up to three days5. Sea-Intelligence put Asia schedule reliability at 32.3% in August, with Vietnam down 5.9 percentage points month on month6.
Fuel and the Gulf keep a floor under prices
Shanghai to Jebel Ali stayed high at $8,584 per 40ft, held up by the deteriorating situation in the Middle East2. Drewry also said high bunker costs and US-Iran tensions continued to push rates up1. Brent crude was $123.1 a barrel on 27 October, up 87.9% from a year earlier7.
Asia to US rates were mixed, and Drewry expected them to fall the following week8.
| Route | Rate per 40ft | Weekly change |
|---|---|---|
| IACI composite | $1,504 | up $46 |
| Shanghai to Singapore | $1,889 | -3% |
| Shanghai to Tanjung Pelepas | $2,053 | -2% |
| Shanghai to Jebel Ali | $8,584 | no figure given |
| Jakarta to Shanghai | $81 | +9% |
New capacity and the next data point
Drewry expects intra-Asia rates to stay broadly stable in the coming weeks, but said further capacity additions could add to supply and threaten market stability2.
Pacific International Lines will start a fortnightly JKS service on 5 November with two vessels, each of 1,900 to 2,600 TEU, calling at Singapore, Laem Chabang and Jakarta1. MSC's Jasmine service is due to arrive at Shanghai on 4 November and calls at Singapore, Surabaya and Semarang4.
Capacity on the main east-west lanes is at historic highs, which Sea-Intelligence links to vessels bunching after congestion and schedule delays in Asia9. Typhoon Champi, which struck East Asia on 23 October, added to the disruption2. Drewry publishes the index weekly and reports waiting times by port, so the next prints will show whether the gap between hubs and secondary ports is widening1.