Intra-Asia spot freight rates by major route ($USD/40ft)

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IACI hits record high for fourth consecutive week

• The Drewry Intra-Asia Container Index (IACI), the benchmark widely referenced by procurement teams, edged up 6% this week to $1,402 per 40ft container. The IACI Composite Index has hit an all-time high for the fourth consecutive week, suggesting that ongoing geopolitical and typhoon-related disruptions continue to ripple through supply chains and constrain available capacity.
• Spot rates from China to Southeast and South Asia strengthened this week, reflecting a spike in demand ahead of the Chinese Golden Week holiday, changes in effective capacity and the network’s ability to readjust following operational disruptions. Rates from Shanghai to Laem Chabang and Ho Chi Minh City increased 15% to $1,324 and $1,161 per 40ft container, respectively. The Middle East situation continued to deteriorate, with rates remaining elevated from Shanghai to Jebel Ali, rising 13% to $8,509 per 40ft container, while also rising rates on alternative routes such as via Jawaharlal Nehru Port indicating that market conditions remained far from normal. Storm-related disruptions continued to affect vessel schedules and increase congestion at Chinese ports. In Week 37, average vessel waiting times reached 78 hours in Shanghai, 13 hours WoW increase, while Ningbo stood at 77 hours, an 11 hour increase from week 36. Beibu Gulf Port Group has completed a test river-sea voyage through the Pinglu Canal ahead of its official opening. The route cuts transit time to just two hours, compared with two days via the Pearl River Delta. The canal aims to strengthen trade between China and its largest trading partner, Southeast Asia and support higher container flows to Vietnam, Singapore, Malaysia and Indonesia. Drewry expects freight rates to stabilise in the coming weeks.
• Spot rates on trade routes across Southeast and Northeast Asia remained mostly stable except for routes originating from Busan and Yokohama. Rates from Busan to Shanghai increased 8% to $128 per 40ft container, while rates from Yokohama to Shanghai rose 7% to $110 per 40ft container. CMA CGM restructured its dedicated China–Middle East CIMEX1 and CIMEX3 services from mid-September as part of efforts to strengthen its intra-Asia network. CIMEX1 will be streamlined by removing Qingdao, Hong Kong and Sohar, with the revised rotation focusing on South China, Singapore and the Middle East. Meanwhile, Qingdao and Sohar will be shifted to CIMEX3, alongside Ningbo, Shekou, Colombo, Fujairah and Singapore. The changes will extend CIMEX3’s turnaround time from seven to eight weeks. Drewry expects freight rates to remain stable in the coming weeks.
• In the Middle East, Houthi forces have added fuel to the fire in the ongoing conflict, advancing along Yemen’s Red Sea coast and capturing the Greater and Lesser Hanish islands near the Bab el-Mandeb chokepoint. These developments have heightened concerns over the security of vessels transiting the strait. Higher bunker costs and ongoing US–Iran tensions are adding further upward pressure on freight rates, with Singapore bunker prices increasing by around 60% YoY in 3Q26. Meanwhile, ONE increased its emergency fuel surcharge on short-haul regional trade lanes from $38 to $60 per teu, effective 16 September.