- 57% of canceled sailings are on the Transpacific Eastbound, 28% on the Transatlantic Westbound, and 15% on the Asia-North Europe and Med routes.
- The Alliance and OCEAN Alliance have each announced 10 cancellations, with 2M scheduling 3 cancellations, and 23 blank sailings from non-Alliance services.
- Ocean freight rates from Asia have decreased for the third consecutive week, while rates on Transpacific and Asia-North Europe & Med routes have fallen, and Transatlantic rates have risen.
Across major East-West headhaul trades—Transpacific, Transatlantic, and Asia-North Europe & Med—46 sailings have been canceled between week 33 (August 12-18) and week 37 (September 9-15), out of 697 scheduled sailings, marking a 7% cancellation rate, reports Drewry.
Cancelled sailings
Across the major East-West headhaul trades—Transpacific, Transatlantic, and Asia-North Europe & Med—46 canceled sailings have been announced for the period between week 33 (August 12-18) and week 37 (September 9-15). This represents a 7% cancellation rate out of a total of 697 scheduled sailings.
Looking ahead over the next five weeks, THE Alliance and OCEAN Alliance have each announced 10 cancellations, while 2M has scheduled 3 cancellations. Non-Alliance services are implementing 23 blank sailings during the same period.
Despite these cancellations, there is a modest improvement in schedule reliability, with an average of 93% of ships expected to sail as scheduled over the next five weeks. This reduction in blank sailings, along with increased effective capacity and improved space availability, coupled with a gradual decline in demand, suggests that freight rates are likely to continue decreasing in the coming weeks.
In Bangladesh, escalating civil unrest is causing significant disruptions in supply chains. Factories have closed, and exports have nearly stopped, potentially worsening the port congestion issues in South Asia.
Regarding ocean freight rates, there has been a third consecutive weekly decline from Asia. As of August 8, Drewry’s WCI Composite Index fell by 3% week-over-week to $5,551. Rates on Transpacific routes and those between Asia and North Europe & the Med have decreased by 3% and 4%, respectively, while Transatlantic rates have increased by 1%.
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Source: Drewry
