- 6% of scheduled sailings cancelled, with Transpacific Eastbound (45%) most affected.
- New US trade policies may increase costs, impacting up to 80% of US-bound containerships.
- Freight rates continue to decline, with Asia-Europe/Med dropping 38% and Transpacific down 29%.
In the key East-West trade lanes—Transpacific, Transatlantic, and Asia-North Europe & Med—40 sailings have been cancelled between March 3 and April 6, out of a total of 715 scheduled sailings. This represents a 6% cancellation rate.
Drewry forecasts that in the next five weeks, most East-West blank sailings will occur on the Transpacific Eastbound route (45%), followed by Asia-North Europe & Med (33%) and Transatlantic Westbound (23%).
Schedule Reliability & Market Impact
Despite the cancellations, overall schedule reliability is expected to improve, with 94% of vessels forecasted to operate on time. The Gemini alliance is projected to achieve 98% on-time performance, but this may shift if carriers increase blank sailings to counter overcapacity and stabilize freight rates.
US Trade Policies & Potential Disruptions
New US trade policies, including proposed port taxes on foreign vessels and tariffs on Chinese-built ships, could significantly impact industry operations. Fees reaching up to $1.5 million per port call may affect up to 80% of US-bound containerships, forcing carriers to reroute vessels, leading to higher costs and inefficiencies.
This policy shift adds to ongoing challenges in the industry, where declining freight rates and persistent overcapacity are already straining operations.
Freight Rate Declines & Market Trends
As of February 27, Drewry’s WCI Composite Index dropped 6% week-on-week (WoW) and 25% year-on-year (YoY), reaching its lowest level since January 2024—33% below the 2024 average.
- Asia-Europe/Med rates fell by 38%
- Transpacific rates declined by 29%
- Transatlantic rates rose slightly by 10%
Given these fluctuations, cargo owners are advised to stay alert, closely monitor trade developments, and adapt their strategies accordingly.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Drewry
