Shanghai-Genoa container rates down 10%: what changes for those importing from China

THURSDAY, 10 SEPTEMBER 2026

The spot rate for a 40-foot container on the Shanghai-Genoa route falls to 4,368 dollars, with further declines expected in the coming weeks.

The figure of the week

According to the latest update of Drewry's Container Index, the spot rate for shipping a 40-foot container on the Shanghai-Genoa route dropped 10% in a single week, reaching 4,368 dollars. In parallel, the Shanghai-Rotterdam leg recorded a more moderate decline of 5%, settling at 4,092 dollars. This is not an isolated event: in the previous seven days the two corridors had already posted declines of 2% and 3% respectively, confirming a now-established downward trend on the Asia-Europe axis.

Behind this drop lie two main factors. The first is the scaling back of blank sailings, that is, the cancelled departures with which carriers reduce supply to support rates: on the European route these will fall from four to just one cancellation in the following week. The second is the so-called Suez effect, meaning the gradual return of container ships to the traditional route through the canal, which according to MDS Transmodal already accelerated in August. More available capacity and fewer scheduled cuts push rates downward.

A two-speed global picture

While Europe sees costs fall, the global scenario remains stable. The World Container Index held at 4,465 dollars per 40-foot container, because on the transpacific front rates have started climbing again. The Shanghai-Los Angeles route rose 5%, up to 7,185 dollars per Feu, while Shanghai-New York posted a 3% increase to 9,587 dollars. On the corridors toward the United States, Drewry recorded six blank sailing announcements for the coming week, double the previous one: a capacity management that, combined with resilient demand, should keep rates stable.

This divergence is worth keeping in mind: those importing from China into Italy currently benefit from more favorable conditions than those moving goods toward North America.

What it means for purchasing departments

For those planning ocean shipments in the coming months, the decline opens an interesting window but calls for caution. Drewry estimates a further slight drop in the short term, but forecasts remain conditioned by variables that are hard to control.

• Tensions in the Middle East may slow or reverse the return of ships to Suez, bringing pressure back onto rates.
• Seasonal weather disruptions at Asian ports are adding congestion to what has already accumulated.
• Drought in the Panama Canal continues to limit capacity and the number of daily transits.

In practice, importers may consider bringing forward or concentrating shipments to take advantage of falling rates, but it is prudent not to base planning solely on a single week's spot figure. Contracts with adjustment clauses, a mix of spot and contractual rates, and flexibility on departure dates remain the most effective tools for managing a market that can change direction quickly. The distinction between Europe and transpacific routes, moreover, suggests analysing costs corridor by corridor, without automatically transferring one market's trends to another.

With La Merce, importing from China when the Shanghai-Genoa rate drops 10% in a week means deciding with a figure in hand whether to bring shipments forward or wait: we track the weekly index and recalibrate the order calendar accordingly.

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