Drewry Report: Intra-Asia Container Index Holds Steady at $555 per FEU

According to the latest update from Drewry for the third week of February, the Intra-Asia Container Index (IACI) showed minimal volatility, dipping a marginal $2 to settle at $555 per 40-foot container (FEU). Notably, on a year-on-year (Y/Y) basis, the index is currently 10% lower than the same period last year.

Updated weekly, the IACI serves as a definitive benchmark for actual spot freight rates within the Asian region. The index represents a weighted average of spot rates across 18 major intra-Asia trade lanes, covering core markets in:

●    Northeast Asia: Japan, China, South Korea, and Taiwan.

●    Southeast Asia: Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

●    Southwest Asia: India and the UAE.

(Note: This index excludes Terminal Handling Charges (THC) at the ports).

The Big Picture: Spot Rate Trends

A closer look at specific service routes reveals a market characterized by stability across most major corridors, with only slight downward adjustments on a few select lanes.

Routes maintaining stable rates:

●    Ho Chi Minh City to Shanghai: $50/FEU (A highly competitive rate for Vietnamese exporters).

●    Busan to Shanghai: $47/FEU.

●    Jakarta to Shanghai: $54/FEU.

●    Shanghai to Yokohama: $780/FEU.

●    Yokohama to Shanghai: $115/FEU.

Routes recording slight declines:

●    Shanghai to Singapore: Saw the sharpest drop of 9%, retreating to $655/FEU.

●    Shanghai to Jawaharlal Nehru (India): Slipped 2%, reaching $800/FEU.

●    Shanghai to Tanjung Pelepas (Malaysia): Eased 2% to $1,124/FEU.

Short-Term Market Outlook

According to Drewry analysts, intra-Asia rates are expected to remain at these lower levels in the immediate short term. However, the market is poised for a visible recovery shortly after the Lunar New Year holiday. The primary catalyst for this uptick will be the resumption of factory operations and the release of accumulated cargo backlogs as they begin to move onto vessels in significant volumes.

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Source: Phaata.com (According to Container-News)

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