Drewry's World Container Index fell 4% to $4,374 per 40ft container in the week to 23 July 2026, the second consecutive weekly decline after the northern-summer peak, with Shanghai-Genoa easing to $5,988 and Shanghai-Rotterdam to $4,824. At the same time Singapore VLSFO climbed from roughly $656 a tonne in early July to about $869 a tonne by the end of the month, a near one-third rise, as Brent crude moved back above $100 a barrel on renewed Strait of Hormuz tensions. Analysts warned on 29 July that a falling headline index does not mean a falling freight bill, because carriers recover fuel through bunker adjustment factors and emergency surcharges rather than base rates, and Cape of Good Hope routings add 10 to 14 days of steaming per voyage.
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