Weekly logistics and ocean freight report: November 3, 2026

The WCI ends a two-week rise and East Coast South America keeps falling sharply. The Drewry World Container Index (WCI) fell 3% to US$4,429 per 40ft container (Oct 29, 2026), mainly due to the Transpacific. The global Freightos Baltic Index (FBX) was practically unchanged at US$3,514/FEU (Oct 31; US$3,513 a week earlier). Towards South America, the SCFI Shanghai–Santos 40ft rate fell 11.2% to US$4,644/FEU (Oct 30), the steepest drop among the index's routes that week, while space to Chile and Peru remains tight due to blank sailings.

Global indices

The WCI moved from US$4,585 (Oct 22) to US$4,429 (Oct 29), back within the range it has traded in since September (US$4,351 to US$4,585). According to the Baltic Exchange, the FBX rose just one point in week 44, from 3,513 to 3,514.

In China, the SCFI rose 0.16% to 3,687.35 points (Oct 30), its fourth consecutive weekly gain but an ever smaller one; the CCFI rose 0.3% to 1,881.82 points, according to TokenFFF.

Main East–West routes

According to Drewry (Oct 29), on the Transpacific Shanghai–Los Angeles fell 6% to US$7,514 and Shanghai–New York 5% to US$9,631 per 40ft container. Drewry cites the National Retail Federation, which forecasts an 11% month-on-month drop in US ocean imports in November, and expects rates to decrease next week. On Asia–Europe, Shanghai–Rotterdam rose 1% to US$3,686 and Shanghai–Genoa was stable at US$4,151; Drewry expects stability, as carriers are announcing higher FAK rates for November but capacity is available and demand is weak.

On the FBX (Baltic Exchange, week 44), Asia–North Europe rose from US$3,516 to US$3,595/FEU, Asia–Mediterranean fell from US$4,421 to US$4,370, Asia–US West Coast held at US$8,342 and Asia–US East Coast moved from US$9,927 to US$9,900. In the SCFI (Oct 30), Europe stood at US$3,587/FEU (+0.84%), the Mediterranean at US$4,318/FEU (+4.48%), US West Coast at US$7,479/FEU (−0.56%) and US East Coast at US$10,199/FEU (−1.82%). According to HL Logistics, MSC is targeting FAK rates of US$4,600 per 40ft to North Europe and US$5,300 to the West Med from November 15, and CMA CGM US$5,500 to the West Med.

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

East Coast (Brazil, Argentina, Uruguay, Paraguay): the decline accelerates. The SCFI Shanghai–Santos 40ft rate fell 11.2% to US$4,644/FEU (Oct 30). That level is already below the US$5,600–6,100 per 40ft range Global Resources projected (Oct 16) for Nov 1–14, when it warned that demand was not enough for a strong rebound and that carrier competition would keep rates in a narrow range. Along the same lines, according to DataPortuaria, Maersk is cutting its peak season surcharge (PSS) from the Far East to Argentina, Brazil, Paraguay and Uruguay from November 9 to US$500 per 20ft and US$1,000 per 40ft dry (from November 20 for South Korean cargo); in August it had set it at US$1,000 and US$2,000 (Container News).

West Coast (Chile, Peru): fewer sailings and equipment shortages. Navicon reports blank sailings in weeks 44, 45 and 46 on services such as AS2, AC3, WSA3, ANDES and INCA, calling at San Antonio, Valparaíso, Coronel, Lirquén and San Vicente, plus a shortage of 40ft High Cube containers in Shanghai and East China. It adds that the October 22 GRI has already been applied and some carriers are considering further increases for November. As a reference, Interbal publishes US$5,850 per 20ft and US$6,350 per 40ft from Ningbo to San Antonio for sailings Nov 1–7 (general cargo, 10 t), and LCL from US$95/m³ for sailings Nov 1–14, with a 41 to 43-day transit. Global Resources projected US$6,900–7,400 per 40ft for the West Coast for Nov 1–14.

Europe → South America and the region's exports. On the FBX, Mediterranean–East Coast and Mediterranean–West Coast South America were flat in week 44 (Baltic Exchange). For exports from the East Coast, the November 15 announcements still stand: Hapag-Lloyd will apply a US$1,000 per container GRI to the West Coast, North America, Central America and the Caribbean.

Bunker, ports and canals

Singapore VLSFO topped US$1,000: US$1,003.50 per tonne on Nov 2, 2.4% above Oct 26, after reaching US$1,019.50 on Oct 30; the spread over HSFO for scrubber-fitted ships rose to US$105. In Santos VLSFO rose 3.1% to US$932, while in Rotterdam it fell 1.1% to US$763.50.

Drewry reports that Suez Canal transits rose to 62 vessels last week, the highest weekly level this year, while only two vessels transited the Strait of Hormuz. Congestion at Shanghai is easing, although Typhoon Champi could disrupt this improvement. Drewry expects 56 blank sailings out of 715 scheduled between weeks 45 and 49 (8%): 46% on Asia–North Europe/Mediterranean, 36% on the Transpacific eastbound and 18% on the Transatlantic.

At the region's ports, Portcast rates congestion as low for the week of October 25–31. The median wait was 0.59 days in Santos (0.5 the previous week), 0.25 in Buenos Aires (0.63), 0.37 in San Antonio (0.25) and 0.21 in Callao (0.26). In Buenos Aires and San Antonio, Portcast detects long waits for a share of vessels.

Outlook

Drewry expects the Transpacific to keep falling next week and Asia–Europe to remain stable. For South America, Global Resources anticipates possible renewed downward pressure on the West Coast in the second half of November as capacity returns, and relatively stable rates on the East Coast. For Brazil and Argentina, compare quotes and check the PSS from November 9, since the index is already below market references; for Chile and Peru, book early and confirm 40ft HC equipment availability and the validity of each rate.

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.