Canceled Sailings Tracker – 01 Mar

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Mfame Editor
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  • 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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