Intra-Asia rates soften as port congestion eases

Intra-Asia rates are easing off recent peaks as congestion at major Chinese and other Asian ports clears.

Drewry's Intra-Asia Container Index stood at an average of $1,453 per 40ft on 15 October, a 3% dip.

Shanghai–Nhava Sheva dropped 11% to $3,370 per 40ft, and Shanghai–Busan slipped 8% to $1,000 per 40ft.

In Week 41, average vessel waiting times at Busan were 23 hours, against 26 hours the week before.

The intra-Asia container freight market has held up this year despite the pullback, with the IACI 198% higher year on year.