- A total of 58 canceled sailings were announced.
- Rates may continue to fall as more capacity enters the market.
- Container Capacity Insight now includes import dwell time at selected ports.
A total of 58 canceled sailings were announced between week 08 (27 Feb-4 Mar) and week 12 (18 Mar-24 Mar) out of 650 scheduled sailings.
Represents a 9% cancellation rate across Transpacific, Transatlantic, and Asia-North Europe & Med trades, reports Drewry.
Distribution: 45% Transpacific Eastbound, 41% Asia-North Europe & Med, and 14% Transatlantic Westbound.
Alliance Cancellations
OCEAN Alliance: 22 cancellations
2M Alliance: 13 cancellations
The Alliance: 12 cancellations
Non-Alliance services: 11 blank sailings.
Service Reliability
On average, 91% of ships are expected to sail as scheduled over the next five weeks, indicating a modest improvement in carrier service reliability.
Ocean Freight Rates
Drewry’s World Container Index: contracted by 1% WoW to $3,733 per 40ft dry container.
Transatlantic spot rates: rose by 10%.
Transpacific Westbound and Asia to North Europe & Mediterranean rates: saw marginal declines of 1% and 2% respectively.
Market Outlook
Rates may continue to fall as more capacity enters the market, especially if the Red Sea fully reopens, leading to oversupply.
Relief in ocean operations post-Lunar New Year rush, with empty containers returning to export hubs and schedules stabilizing.
The expectation of fewer blank sailings was announced for the next 5 weeks.
Congestion easing at major ports across the US and Europe as they manage delayed Asian ships.
Service Enhancement
Container Capacity Insight (CCI) now includes import dwell time at selected ports, comprehensive analysis of carriers’ CO2 emissions, and utilization indices across major East-West trade routes, including South Asia to North Europe and the Med.
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Source: Drewry
