Global container shipping rates moved higher for a second consecutive week, with tighter capacity and steady demand pushing Transpacific prices sharply upward, according to the latest Drewry World Container Index.

Read also: Container Freight Rates Rise 4% as Transpacific Demand Stays Strong

The index rose 4% to $4,526 per 40-foot container, as stronger rates on Asia-U.S. routes outweighed declines across the Asia-Europe trades.

The biggest increases came on the Transpacific. Spot rates from Shanghai to New York climbed 9% to $9,507 per 40-foot container, while the Shanghai-Los Angeles route also gained 9%, reaching $6,802.

Carriers tighten Transpacific capacity

Drewry said demand across the Transpacific remains relatively strong, while carriers are restricting available capacity through blank sailings and other network adjustments.

Seven blank sailings are currently planned for next week, adding to pressure on available space.

Capacity from Asia to the U.S. East Coast dropped 9% month over month in August, while capacity on Asia-U.S. West Coast services declined by 0.4%.

The tighter supply environment is allowing carriers to support higher freight rates even as the traditional peak season moves forward. Drewry expects Transpacific rates to remain broadly stable next week.

Shippers moving cargo toward the U.S. East and Gulf coasts could also face higher costs in September. Several carriers have announced Panama Canal surcharges for Asia-U.S. East Coast and Asia-U.S. Gulf Coast services.

Asia-Europe rates move lower

The Asia-Europe market followed a different trend, with spot rates continuing to decline.

Shanghai-Genoa rates fell 2% to $4,955 per 40-foot container, while Shanghai-Rotterdam rates slipped 1% to $4,401.

Carriers are also reducing capacity on the trade, with two blank sailings scheduled for next week.

Port congestion has improved in Shanghai and Rotterdam, although waiting times remain significant. Drewry reported average vessel delays of 32.3 hours in Shanghai and 25 hours in Rotterdam during week 33.

The consultancy expects Asia-Europe rates to remain relatively stable in the coming week.

Geopolitical risks remain

Uncertainty across global shipping markets remains elevated as geopolitical and operational disruptions continue to influence carrier networks.

The expiration of the U.S.-Iran memorandum covering the Strait of Hormuz has added another layer of uncertainty, while some container lines have begun restoring selected services through the Red Sea and Suez Canal following improvements in security conditions.

Meanwhile, congestion at major Asian and European ports and labor disruptions at German ports continue to create challenges for schedule reliability.

Shippers urged to plan ahead

With carriers using capacity reductions and surcharges to support freight rates, shippers could face additional pressure on transportation costs in the weeks ahead.

Drewry advised cargo owners to book shipments early and allow additional time in their supply chains to reduce exposure to rolled cargo, congestion and transit delays.

For now, the diverging performance between the Transpacific and Asia-Europe trades highlights how quickly capacity decisions, demand and geopolitical developments can reshape global container freight markets.