- Scheduled Sailings Impacts Major East-West Trade Lanes.
- Schedule Reliability Expected to Improve Despite Cancellations.
- Rising Capacity Puts Pressure on Shipping Rates.
Drewry’s Cancelled Sailings Tracker offers a snapshot of blank sailings announced by each alliance compared to the total number of scheduled sailings. This data provides valuable insight into current market trends, helping industry players anticipate shifts in capacity and service reliability, reports Drewry.
Cancelled Sailings in Key East-West Trade Lanes
Between Weeks 9 (24 Feb – 2 Mar) and 13 (24 Mar – 30 Mar), 43 sailings have been cancelled out of a total of 716 scheduled sailings, representing a 6% cancellation rate. The majority of these cancellations impact:
- Transpacific Eastbound (44%)
- Asia-North Europe & Med (35%)
- Transatlantic Westbound (21%)
Over the next five weeks, Drewry forecasts that most cancellations will continue to concentrate in these trade lanes.
Improved Schedule Reliability Expected
Despite ongoing blank sailings, overall schedule reliability is projected to improve, with approximately 94% of vessels expected to operate on time over the next five weeks. Among the major carriers, MSC and Gemini are forecasted to achieve an impressive 98% on-time performance.
However, this outlook could shift if carriers introduce additional blank sailings to manage overcapacity and prevent further rate declines.
Pressure on Rates as Capacity Surges
As March approaches, increasing capacity is expected to exert further downward pressure on shipping rates. This will likely reduce the success rate of General Rate Increases (GRIs) planned for 1 March.
Meanwhile, rates across major East-West trade lanes continue to decline. The Drewry WCI Composite Index fell 10% week-on-week on 20 February, dropping to $2,795 per 40ft container.
Industry Focus on TPM Conference 2025
Everyone’s eyes are now on the forthcoming TPM Conference in Long Beach between 2-5 March 2025. The industry’s leading event will unite shippers, beneficial cargo owners (BCOs), and service providers to analyze ongoing challenges and market strategies.
Drewry’s supply chain advisors will be speaking at the event, offering their expertise on how to navigate the changing shipping environment.
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Source: Drewry
