The global container shipping market held steady this week, with the Drewry World Container Index unchanged at $1,852 per 40-foot container. But beneath the calm, major trade lanes are moving in opposite directions.

Read also: Container Shipping Prices Fall After Holidays, but Red Sea Risks Still Worry Industry

Transpacific spot rates fell for the second week in a row. Rates from Shanghai to New York dropped 10% to $2,922, while Shanghai to Los Angeles fell 7% to $2,172. With blank sailings set to decline next week, more capacity is returning to the market—adding further pressure to already softening rates.

Drewry expects Transpacific rates to “soften slightly next week” as supply outpaces demand.

Meanwhile, the Asia–Europe corridor continues to strengthen. Rates from Shanghai to Genoa rose 6% to $2,319, and Shanghai to Rotterdam increased 8% to $2,193, marking the sixth straight week of gains. Carriers are also introducing higher Freight All Kinds (FAK) rates—between $3,100 and $4,000 per 40-foot container—effective December 1.

Analysts say carriers are moving to push up spot rates before annual contract negotiations begin. But the strategy may lose momentum in the months ahead.

Drewry’s latest forecast suggests the global supply-demand balance will weaken over the coming quarters, especially if normal Suez Canal operations resume. A reopening could shift traffic patterns and put wider downward pressure on freight rates.

For now, the market’s stability hides a sharp regional split: the Transpacific trade is showing signs of overcapacity, while Asia–Europe remains tight as carriers keep capacity in check.