Global container spot freight rates continued to weaken this week as shipping lines offered discounts across major trade lanes, even as carriers prepare to introduce new General Rate Increases (GRIs) in August.

Read also: Container Spot Rates Extend Decline as Global Shipping Demand Softens

According to the latest market data, spot rates on both the Asia-Europe and Transpacific routes posted modest declines, with aggressive pricing by carriers outweighing efforts to keep capacity tight.

Drewry’s World Container Index (WCI) showed rates from Shanghai to Rotterdam fell 3% to $4,677 per 40-foot container, while the Shanghai-Genoa route dropped 6% to $5,630 per FEU. Market intelligence firm Linerlytica said several carriers have already been offering rates below $5,000 per FEU on Asia-Europe services, suggesting support for planned August rate increases is beginning to fade.

The Shanghai Containerized Freight Index (SCFI), which tracks forward pricing for the coming week, also pointed to continued weakness. Spot rates from Shanghai to both Northern Europe and the Mediterranean declined by 4%, indicating that downward pressure is likely to continue unless carriers successfully implement higher pricing.

To slow the decline, carriers are continuing to reduce available capacity through blank sailings. Drewry said three blank sailings are planned on the Asia-Europe trade next week, compared with four this week. Despite these measures, carriers are preparing another round of freight increases later this month.

MSC has announced new Freight All Kinds (FAK) rates effective August 15, targeting $7,800 per FEU for shipments from Asia to Northern Europe and $6,700 per FEU for Asia-Mediterranean cargo.

Across the Pacific, freight rates also remained under pressure. Drewry reported that spot rates from Shanghai to Los Angeles declined 2% to $5,739 per FEU, while rates to New York held steady at $7,578 per FEU.

Freight forwarder Freight Right attributed the softer pricing to carriers intentionally lowering rates to stimulate demand and stabilize the market after months of volatility.

Carriers are now hoping that a fresh round of General Rate Increases (GRIs) taking effect on August 1 will reverse the downward trend. The planned increases range from $2,000 to $3,000 per FEU, depending on the carrier.

Supporting that optimism, the latest SCFI recorded a 12.5% jump in quoted rates from Shanghai to both the U.S. West Coast and East Coast, reflecting carriers’ expectations that the higher pricing may gain traction.

However, market observers caution that the increases will only hold if cargo volumes remain strong. If import demand weakens after the recent tariff-driven shipping surge, spot rates could quickly retreat once the initial August increases fade.

Carriers are also expected to rely more heavily on blank sailings to support pricing. Drewry’s Container Capacity Insight shows eight blank sailings scheduled on Transpacific services next week, compared with seven this week, as shipping lines continue to manage excess capacity.

In another sign of changing market dynamics, Chinese carrier BAL Container Lines has canceled plans to deploy a one-off 14,000-TEU extra-loader service to the U.S. West Coast. Instead, the vessel has been chartered to Maersk, which will deploy it on Asia-Europe routes, highlighting how carriers are shifting capacity to match evolving market demand.

While carriers are pushing for higher freight rates through GRIs and tighter capacity management, analysts say the market’s direction over the coming weeks will ultimately depend on cargo demand, importer activity, and the industry’s ability to sustain higher pricing in an increasingly competitive environment.