Drewry's Intra-Asia Container Index (IACI) edged up 2% last week to $1,518 per 40ft container, posting an all-time high for the sixth consecutive week as typhoon disruption and port congestion tightened regional capacity.

Carriers leaned on blank sailings and port omissions to manage tonnage, while elevated bunker and operating costs added further upward pressure on spot rates. The reading keeps IACI the benchmark most procurement teams reference for short-sea Asia contracting.

Which intra-Asia lanes moved the sharpest?

Spot rates from China to Southeast and South Asia strengthened across the board, supported by pre–Golden Week demand and post-typhoon network rework:

• Shanghai → Ho Chi Minh City: +7% to $1,377/FEU
• Shanghai → Manila: +7% to $1,062/FEU
• Shanghai → Singapore: +4% to $2,073/FEU
• Shanghai → Tanjung Pelepas: +4% to $2,056/FEU

Rates to North Asia — Busan, Kaohsiung and Yokohama — held broadly stable. Drewry attributes the divergence to stronger demand pull from Southeast Asian transhipment hubs ahead of the Golden Week factory closure.

Why is the long-haul Asia–Middle East number detached from the rest?

The Shanghai–Jebel Ali lane remains the standout outlier at $8,662/FEU, with the deteriorating Red Sea situation keeping headhaul Asia–Middle East pricing elevated even as intra-Asian capacity tightens. Bunker exposure compounds the pressure: Brent crude has traded above $100 per barrel since early September, and CMA CGM has responded with an emergency $75/TEU fuel surcharge on all intra-regional lanes effective 1 October.

Where is capacity actually being added back?

Despite the tight spot market, OOCL plans to launch the China–Cambodia–Thailand Service (CCT4) on 23 October 2026, with port calls at Nansha, Shekou, Sihanoukville and Songkhla. The CCT4 loop will restore direct South China–mainland Southeast Asia connectivity that several carriers pared during the blank-sailing phase.

What is happening on the port side?

Vessel bunching and schedule slippage continue at China's two biggest export gateways. Average container vessel waiting times in Week 39 reached 82 hours at Shanghai and 56 hours at Ningbo — congestion levels last seen at peak 2022. The delays amplify effective capacity withdrawal by forcing carriers to slow string rotations.

Where do rates go from here?

Drewry expects rates to stabilise in the coming weeks as the Golden Week volume dip clears port backlogs and eases pressure on some Southeast Asia routes. The index has climbed 212% year-on-year, but sequential momentum has slowed; Drewry's commentary points to a pause rather than a fresh leg up, provided bunker prices do not break higher and typhoon-related schedule slippage unwinds at Shanghai and Ningbo before mid-October.

The next material inflection point sits on the calendar: the 1 October CMA CGM bunker surcharge rolls into contracts across the region on the same day Golden Week demand pulls back, and the OOCL CCT4 launch on 23 October 2026 will test whether carriers expand capacity into the very lane running hottest.