54 Cancelled Sailings Across Major East-West Trades

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Across the major East-West headhaul trades: Transpacific, Transatlantic and Asia-North Europe & Med, 54 cancelled sailings have been announced between week 15 (8 Apr-14 Apr) and week 19 (6 May-12 May), out of a total of 646 scheduled sailings, representing 8% cancellation rate, reports Drewry.

Transpacific Eastbound

During this period, 43% of the blank sailings will occur on the Transpacific Eastbound, 39% on the Asia-North Europe and Med and 19% on the Transatlantic Westbound trade.

Over the next five weeks, OCEAN Alliance have announced 20 cancellations, followed by THE Alliance and 2M with 12 and 6 cancellations, respectively. During the same period, 16 blank sailings have been implemented by non-Alliance services.

As can be seen in the chart above, we expect a modest decline in carrier service reliability: on average 92% of the ships are expected to sail as scheduled.

On the ocean freight side, Drewry’s World Container Index contracted 3% WoW to $2,836, yet it remained 83% higher than the December 2023 average ($1,548). Transpacific rates dropped 3%, while rates on Asia-Europe and Med routes decreased 4%, and Transatlantic rates experienced a modest 1% decline.

While shipping operations at the Port of Baltimore have been temporarily suspended, there has been little significant disruption to the container supply chain in the US. Nearby ports such as Norfolk, Philadelphia and New York have abundant container handling capacity. While major disruptions at adjacent ports are not expected, delays in shipping operations could occur.

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Source: Drewry