Across the major East-West headhaul trades: Transpacific, Transatlantic and Asia-North Europe & Med, 59 cancelled sailings have been announced between weeks 49 (4 Dec-10 Dec) and week 01 (01 Jan-07 Jan), out of a total of 650 scheduled sailings, representing 9% cancellation rate. During this period, 39% of the blank sailings will occur on the Transpacific Eastbound, 37% on the Transatlantic Westbound, and 24% on Asia-North Europe and Med trade.
Over the next five weeks, OCEAN Alliance announced 19 cancellations, followed by THE Alliance and 2M with 9 and 2 cancellations, respectively. During the same period, 29 blank sailings have been implemented in non-Alliance services.
On average 91% of ships are expected to sail as scheduled over the next five weeks with the exception of 2M Alliance who hits 98% overthe same period.
Freight rates showed relative stability in the East-West trade lanes this week, with Drewry’s Composite World Container Index falling by just 0.2% to $1,381.
In November, the average 40ft Index ($1,429) saw a 5% increase compared to October ($1,366), except for Shanghai – New York and Rotterdam – New York, where average rates dropped by 1% and 3%, respectively. This rise may be attributed to carriers managing capacity through cancellations and adjustments to services across all trade lanes.
With upcoming surcharges, such as the Panama Canal surcharge and the Emissions Trading System scheduled for mid-December and January, shippers and BCOs may see further freight rate increases in the weeks ahead.
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Source : Drewry
