Drewry’s Weekly Cancelled Sailings Tracker: Analysis And Market Trends

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Cancelled Sailings Tracker provides a snapshot of blank sailings announced by each Alliance versus the total number of scheduled sailings, reports Drewry.

Weekly analysis: 15 Mar 2024

Across the major East-West headhaul trades: Transpacific, Transatlantic and Asia-North Europe & Med, 42 cancelled sailings have been announced between week 12 (18 Mar-24 Mar) and week 16 (15 Apr-21 Apr), out of a total of 650 scheduled sailings, representing 6% cancellation rate.

During this period, 48% of blank sailings will occur on the Transpacific Eastbound, 33% on the Asia-North Europe and Med and 19% on the Transatlantic Westbound trade.

Over the next five weeks, OCEAN Alliance have announced 12.5 cancellations, followed by THE Alliance and 2M with 8.5 and 4 cancellations, respectively. During the same period, 17 blank sailings have been implemented by non-Alliance services.

As can be seen above, we are seeing a modest improvement in carrier service reliability: on average 94% of the ships are expected to sail as scheduled, over the next five weeks with the exception of 2M Alliance who hits 97% during the same period.

On the ocean freight side, Drewry’s World Container Index contracted 4% WoW to $3,162 per 40ft dry container, yet remained 104% higher than the December 2023 average ($1,548). This week, Transpacific rates fell 2%, while those on Asia-Europe and the Med dropped 5%. However, Transatlantic rates saw an increase of 2%.

Blank sailings on major East-West trade lanes are expected to decrease from 136 in weeks 7-11 to 42 in weeks 12-16. Notably, no cancellations have been announced for the North Europe to North America trade lane in weeks 14, 15, and 16 so far.

As container traffic avoids the Suez Canal, demand diminishes during the slow season, and operations stabilise, rates continue to slide across key East-West trade routes. With fewer blank voyages and sufficient capacity, carriers may struggle to maintain the rate increases achieved in January and February.

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Source: Drewry

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