- 55 canceled sailings were announced across major East-West trades.
- Blank sailings are expected to decrease.
- Effective capacity is forecasted to increase by 23%.
55 canceled sailings were announced across major East-West trades. Represents a 5% cancellation rate out of 650 scheduled sailings. The majority of blank sailings (49%) on the Asia-North Europe & Med route, reports Drewry.
Alliance Announcements
- OCEAN Alliance: 11 cancellations.
- The Alliance: 8 cancellations.
- 2M: 5 cancellations.
- Non-Alliance services: 11 blank sailings.
Service Reliability
Expected 95% of ships to sail as scheduled over the next five weeks.
Ocean Freight Rates
Drewry’s World Container Index decreased by 5% WoW to $3,493 per 40ft dry container.
Rates 136% higher than December 2023 averages.
Rates fell on Transpacific and Asia-North Europe routes, with a slight increase on the Transatlantic route.
Forecast
Blank sailings are expected to decrease from 123 in February to 36 in March on major East-West trade routes.
Effective capacity is forecasted to increase by 23% between February and March.
Anticipated a decrease in rates in coming weeks, although remaining relatively high.
Partnership Renewal
Members of Ocean Alliance, including CMA CGM, Cosco Shipping, Evergreen, and OOCL, extend collaboration until 2032.
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Source: Drewry
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