Asia-US East Coast spot rates jumped 5.75% to 9,692.72 points in the latest NYSHEX Freight Index reading, extending a divergence that now defines the container market: firm Transpacific pricing against persistent Asia-Europe weakness.

The West Coast leg of the Transpacific followed the same trajectory, rising 4.82% to 7,417.32. Asia-North Europe moved in the opposite direction, falling 4.13% to 3,597.33, according to the NYFI data.

The contrast shows up across every major benchmark. Drewry's World Container Index slipped 1% to US$4,468 per 40-foot container, with the consultancy attributing the decline to continued softness on Asia-Europe. The Freightos Baltic Index edged down 1% to US$3,380.40, following its previous drop to US$3,407.

Chinese benchmarks split three ways

The three Chinese composite indexes told a mixed story. The Shanghai Containerized Freight Index stood virtually flat at 3,686.62 points, down a marginal 0.03% from 3,687.83. The broader China Containerized Freight Index gained 1.1%, rising to 1,917.68 from 1,897.15. The Ningbo Containerized Freight Index fell for another week, declining 1.6% to 2,494.75 from 2,535.27.

The divergence within China's own benchmark family reflects the underlying trade-lane split: contract-weighted indices like the CCFI hold up better than spot-driven measures when Transpacific strength offsets Asia-Europe declines.

Drewry: lane-level detail

At individual trade-lane level, Drewry reported Shanghai-Los Angeles up 2% to US$7,838 per 40-foot container, while Shanghai-New York held stable at US$10,373. Asia-Europe continued to slide. Shanghai-Rotterdam lost 4% to US$3,485, and Shanghai-Genoa fell 5% to US$3,835.

The Transatlantic market was mixed in the NYFI readings. Westbound rates dropped 8.23% to 2,493.90, reversing part of the previous week's sharp increase, while eastbound rates rose 7.53% to 1,104.48.

Suez recovery pressures Asia-Europe

The most consequential capacity signal sits outside the rate indices. Drewry reported that Suez Canal transits increased from 41 in Week 37 to 48 in Week 38, adding effective capacity to the Asia-Europe trade. The consultancy expects that recovery in effective capacity to outweigh the impact of blank sailings, keeping downward pressure on Asia-Europe rates.

That arithmetic matters for carriers and forwarders alike. Blank sailings only support rates if they remove more capacity than the Suez return adds back. For now, Drewry's assessment suggests they do not.

For shippers moving cargo from Asia to North Europe and the Mediterranean, the direction is unambiguous: spot rates keep falling, and each additional week of restored Suez transits deepens the buyer's position. US-bound shippers face the mirror image — NYFI readings up nearly 5% on the West Coast and close to 6% on the East Coast, with Drewry confirming a 2% gain into Los Angeles.

Pattern persists across weekly readings

The latest numbers reinforce a pattern visible across several weekly updates. Global and composite indices move moderately lower or sideways, masking sharply different conditions on the main East-West trades. US-bound spot rates hold firm while Asia-Europe continues to deteriorate.

The indexes use different methodologies and reporting schedules, so their absolute levels are not directly comparable. Taken together, though, the signal is consistent.

Golden Week looms

The approaching Golden Week period could break the pattern. Drewry expects Transpacific rates to decline in its next reading ahead of the holiday, despite carrier capacity reductions already announced. On Asia-Europe, the consultancy forecasts further decreases as recovering effective capacity through the Suez Canal outweighs blank sailings.

The next round of readings will show whether the Transpacific-Europe divergence — now several weeks old — begins to narrow, or whether a simultaneous slide on both trades resets the global benchmarks downward.