Freight Rates Slide for 10th Week as Blank Sailings Lose Impact

By
Mfame Team
-
100

  • 48 blank sailings announced between weeks 12 and 16, out of 714 scheduled sailings (7% cancellation rate).
  • Transpacific Eastbound accounts for the highest share of cancellations (48%), followed by Transatlantic Westbound (27%) and Asia-North Europe & Med (25%).
  • Schedule reliability expected to drop, with 93% of vessels operating on time over the next five weeks.

Weekly Analysis – 14 March 2025

Blank Sailings Snapshot

Drewry’s latest Cancelled Sailings Tracker reports 48 blank sailings across the major East-West trade lanes between weeks 12 (17-23 March) and 16 (14-20 April). This represents a 7% cancellation rate out of a total 714 scheduled sailings.

Over the next five weeks, the majority of blank sailings are expected on:

  • Transpacific Eastbound (48%)
  • Transatlantic Westbound (27%)
  • Asia-North Europe & Med (25%)

Schedule Reliability to Decline

Despite a moderate cancellation rate, schedule reliability is expected to decrease, with Drewry forecasting that only 93% of vessels will operate on time.

Freight Rates Extend 10-Week Decline

Container spot freight rates on major East-West routes continued to weaken:

  • Drewry’s WCI Composite Index fell 7% WoW to $2,368 per 40ft container as of 13 March.
  • Rates are now 25% lower YoY.
  • Transpacific and Asia-Europe/Med routes saw rates decline by 7% and 8%, while Transatlantic rates edged up 1%.

Carriers Adjust Strategies Amid Market Pressures

Some carriers are introducing new FAK (Freight All Kinds) rates or postponing them until April. However, the effectiveness of this strategy depends on capacity management.

With market share and network adjustments taking priority, blank sailings are becoming less effective in balancing supply and demand. Cancellations are projected to drop 32% from 87 in March to 59 in April. As a result:

  • Rate hikes have already been postponed.
  • Further increases seem unlikely in the near term.

Outlook

The coming weeks are expected to see continued volatility in freight rates and schedule reliability, as carriers navigate shifting market conditions.

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Source: Drewry