A recently published Drewry news report talks about the snapshot of blank sailings announced by each Alliance.
Cancelled Sailings Tracker
Our weekly Cancelled Sailings Tracker provides a snapshot of blank sailings announced by each Alliance versus the total number of scheduled sailings.
Further to the snapshot below, you may be interested in an annual subscription to our Container Capacity Weekly Insight which provides detailed assessments and analysis by main trade and alliance. Weekly reports include port waiting time events for Los Angeles and Long Beach, and year-on-year comparison.
Weekly analysis: 16 Sep 2022
Across the major trades: Transpacific, Transatlantic and Asia-North Europe & Med, 122 cancelled sailings have been announced between weeks 38 (19-25 September) and week 42 (17-23 October), out of a total of 750 scheduled sailings, representing 16% cancellation rate.
During this period, 68% of the blank sailings will be occurring in the Transpacific Eastbound, 24% on Asia-North Europe and Med, and 8% on the Transatlantic Westbound trade.
Over the next five weeks, 2M has announced 40 cancelations, followed by THE Alliance and Ocean Alliance with 33.5 and 27.5 cancellations, respectively.
Container shipping market continues to weaken
The container shipping market continues to weaken, spot rates from China have been tumbling WoW and faster than was expected with weakening container demand, full inventories, consumer spending shifting from goods to services and the uncertain economic climate all contributing.
Shipping lines are responding with blank sailings across the major East-West trades as they attempt to align capacity with falling cargo demand. (In Oct-22 Drewry has tracked a sharp YoY decrease in the capacity deployed in both Asia-Europe and Asia-WCNA trades).
Port congestion and operational disruptions continue with new confirmed port strike action at both Liverpool and Felixstowe ports, the closure of Shanghai, Ningbo and Busan ports in Asia because of typhoon warnings and looming national rail strikes in the US.
Given these challenging market conditions, both shippers and BCOs will be busy weighing the risks when placing their bookings and forecasting lead times.
If you need help planning your ocean carrier strategy this year, contact one of our ocean freight procurement specialists at supplychains@drewry.co.uk
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Source: Drewry
