Weekly logistics and ocean freight report: October 27, 2026

The WCI hits a 15-week high, but the indices disagree and East Coast South America keeps falling. The Drewry World Container Index (WCI) rose 2% to US$4,585 per 40ft container (Oct 22, 2026), its second consecutive gain, with increases on Asia–Europe and the Transpacific. The global Freightos Baltic Index (FBX), by contrast, closed at US$3,513/FEU (Oct 24), 1.3% below the US$3,560 of October 17, dragged down by Asia–US East Coast. Towards South America, the SCFI South America (Santos) fell 8.61% to US$5,053/TEU (Oct 23), and carriers are already announcing new surcharges for November.

Global indices

The WCI moved from US$4,485 (Oct 15) to US$4,585 (Oct 22). Since September 3 it had traded between US$4,351 and US$4,500. According to the Baltic Exchange, the FBX fell over the week from 3,577 to 3,513, mainly due to the drop on Asia–US East Coast; previous weekly readings since US$3,484 (Sep 5) had ranged between US$3,344 and US$3,560.

In China, the SCFI rose just 0.05% to 3,681.34 points (Oct 23), its third consecutive weekly gain; the CCFI fell 2.41% to 1,876.27 and Ningbo's NCFI rose 0.50% to 2,509.30. Within the CCFI, the South America sub-index fell 4.10% to 1,413 points.

Main East–West routes

According to Drewry (Oct 22), Shanghai–Rotterdam rose 3% to US$3,632 and Shanghai–Genoa 5% to US$4,152 per 40ft container. On the Transpacific, Shanghai–Los Angeles rose 2% to US$8,007 and Shanghai–New York 1% to US$10,166. Drewry expects stable Transpacific rates and a slight increase on Asia–Europe next week: 8 blank sailings have been announced on that trade (2 this week). It also reports that vessel waiting time at Shanghai fell from 97 hours in week 38 to 38 hours in week 42.

The indices disagree on Asia–North Europe. On the FBX (Baltic Exchange, week 43) it fell from US$3,692 to US$3,516/FEU, while Xeneta (Oct 23) puts it at US$3,698 (+6.8%). There is more agreement on the Mediterranean: the FBX moved from US$4,001 to US$4,421 and Xeneta shows US$4,442 (+5.8%). On the Transpacific, FBX Asia–US East Coast fell from US$10,754 to US$9,927 and West Coast from US$8,391 to US$8,342; Xeneta gives US$8,311 (West Coast) and US$11,525 (East Coast), both +0.2%. In the SCFI (Oct 23), Europe stood at US$2,351/TEU (+0.69%) and US$3,557/FEU (+0.28%), the Mediterranean at US$3,255/TEU (+0.15%) and US$4,133/FEU (+0.88%), US West Coast at US$7,521/FEU (−0.05%) and US East Coast at US$10,388/FEU (−0.16%). According to The Loadstar, as cited by Forwarder News, MSC is seeking FAK rates from November 1 of US$4,500 per 40ft to North Europe and US$5,000 to the West Med, and CMA CGM US$4,900 to the West Med.

Focus on South America: Argentina, Chile, Brazil and Peru

East Coast (Brazil, Argentina, Uruguay, Paraguay): the correction deepens. The SCFI South America (Santos) fell US$476 on the week to US$5,053/TEU (Oct 23), after dropping 6.68% to US$5,529 the previous week. The CCFI South America fell 4.10%. The latest Global Resources report (Oct 16) puts the lane at US$5,500–5,800 per 40ft GP for Oct 15–31, below Hapag-Lloyd's ECSA tariff (US$6,700 per 40ft Dry from October 15), and attributes the weakness to soft bookings, price competition and added capacity. We found no public figure this week for the Santos 40ft sub-index the SCFI has published since October 16.

West Coast (Chile, Peru): tight space heading into November. Global Resources (Oct 16) gives US$6,400–7,000 per 40ft GP for Oct 15–31, above Hapag-Lloyd's WCSA tariff (US$6,200 per 40ft Dry). In Chile, Seimex reports China–Chile shipments closed at US$5,900 per 40ft between Oct 15 and 21 (US$5,300 between Oct 1 and 14). Navicon (Oct 26) reports that space for early-November sailings is being allocated quickly, especially at Ningbo and Shanghai, that some carriers are applying overweight surcharges (OWS), and that the super typhoon that hit Ningbo on October 24–25 could delay sailings.

Europe → South America and the region's exports. On the FBX, Mediterranean–East Coast South America rose from US$1,205 to US$1,578/FEU in week 43 (Baltic Exchange). In the opposite direction, from November 15 CMA CGM will apply a peak season surcharge (PSS) of US$700 per 20ft and US$900 per 40ft on dry cargo from Brazil (excluding the Northeast), Argentina, Uruguay and Paraguay to Europe, the Mediterranean, North Africa and the Middle East, and from November 1 a PSS of US$150 per dry container from the West Coast of South America to several destinations (MasContainer, Oct 22). Hapag-Lloyd adds a US$1,000 per container GRI from November 15 from the East Coast of South America to the West Coast, North America, Central America and the Caribbean.

Bunker, ports and canals

Singapore VLSFO reached US$980 per tonne on Oct 26, 4.9% above Oct 19 (US$934); HSFO rose to US$901.50 and the scrubber spread widened to US$78.50. In Rotterdam VLSFO rose 2.2% to US$772 and in Santos 7.9% to US$904. Freightos (Oct 20) notes that crude remains around US$100 per barrel, with more Iranian attacks around Hormuz.

In the Red Sea, Freightos estimates carriers will complete their return via Suez during Q1 2027, despite the higher risk of Houthi attacks; Drewry counted 55 containership transits through Suez in week 42 (54 in week 41), and only two containerships sailed into the Gulf that week. Drewry expects 56 blank sailings out of 714 scheduled between weeks 44 and 48 (8%): 54% on Asia–North Europe/Mediterranean, 32% on the Transpacific eastbound and 14% on the Transatlantic. In Panama, the Canal Authority reinstated the last-minute reservation service at the Panamax locks from October 21 (advisory A-39-2026), but stresses that booking remains the only way to guarantee a transit date. In September, the canal averaged 32.63 oceangoing transits per day.

At the region's ports, Portcast rates congestion as low for the week of October 18–24, although the median wait rose at all of them: Santos 0.5 days (0.46 the previous week), Buenos Aires 0.63 (0.29), San Antonio 0.25 (0.04) and Callao 0.26 (0.08); in Callao, Portcast detects long waits for a share of vessels.

Outlook

Drewry expects stable Transpacific rates and a slight increase on Asia–Europe next week, driven by blank sailings; Xeneta believes the US trades have already peaked and expects them to soften through the rest of 2026. For South America, Global Resources expects US$6,900–7,400 per 40ft on the West Coast and US$5,600–6,100 on the East Coast for Nov 1–14. For Chile and Peru, book November sailings now and confirm weight and surcharges; for Brazil and Argentina, compare quotes, as the SCFI keeps falling. For exports from the East Coast, factor in the November 15 PSS.

At Solo Rep we help clients with projects in Argentina and Chile read this logistics context when planning purchases and shipments. Write to us at matias@solo-rep.com or through Contact.