Weekly Cancelled Sailings Tracker provides a snapshot of blank sailings announced by each Alliance versus the total number of scheduled sailings, reports Drewry.
Weekly analysis: 22 Mar 2024
Transpacific, Transatlantic, and Asia-North Europe & Med, 41 canceled sailings have been announced between week 13 (25 Mar-31 Mar) and week 17 (22 Apr-28 Apr), out of a total of 650 scheduled sailings, representing a 6% cancellation rate.
During this period, 51% of the blank sailings will occur on the Transpacific Eastbound, 27% on the Asia-North Europe and Med, and 22% on the Transatlantic Westbound trade.
Over the next five weeks, OCEAN Alliance has announced 12.5 cancellations, followed by THE Alliance and 2M with 7.5 and 2 cancellations, respectively. During the same period, 19 blank sailings have been implemented by non-Alliance services.
As above, we are looking at a modest improvement in carrier service reliability: on average 94% of the ships are expected to sail as scheduled, over the next five weeks except for 2M Alliance which hits 99% during the same period.
On the ocean freight side, Drewry’s World Container Index contracted 5% WoW to $3,010 per 40ft dry container, yet remained 94% higher than the December 2023 average ($1,548). This week, Transpacific EB rates fell 2%, while those on Asia-Europe and the Med dropped 8%. However, Transatlantic rates saw an increase of 2%.
Regarding the ongoing security situation in the Red Sea; Houthi assaults on vessels continue, resulting in the vast majority of carriers avoiding the area altogether by journeying around the Cape of Good Hope. Nonetheless, a handful, no doubt driven by the financial rewards of doing so, have chosen to deviate from the norm; a good example being China United Lines (CULines), which inaugurated the ’Red Sea Express (REX)’ service this month, which serves the China-Red Sea route.
Did you subscribe to our daily Newsletter?
It’s Free! Click here to Subscribe
Source: Drewry
