Weekly Cancelled Sailings Tracker and Market Insights

Drewry’s weekly Cancelled Sailings Tracker provides a comprehensive overview of blank sailings announced by each Alliance compared to the total number of scheduled sailings. Between weeks 32 (August 5-11) and 36 (September 2-8), 59 cancelled sailings have been announced out of a total of 694 scheduled sailings across the major East-West head haul trades: Transpacific, Transatlantic, and Asia-North Europe & Med, representing a 9% cancellation rate. During this period, 56% of the blank sailings will occur on the Transpacific Eastbound, 29% on the Transatlantic Westbound trade, and 15% on the Asia-North Europe and Med.

Alliance-Specific Cancellations

Over the next five weeks, THE Alliance has announced 17 cancellations, followed by OCEAN Alliance with 12 and 2M with 10 cancellations. Additionally, 21 blank sailings have been implemented by non-Alliance services. As seen in the chart, schedule reliability is declining, with an average of 91% of ships expected to sail as scheduled over the next five weeks.

Market Conditions and Index Trends

On August 1, Drewry’s WCI Composite Index fell 1% week-on-week to $5,736. Despite recent spot rate declines, the index remains 62% above May’s average of $3,539. Disruptions and rising costs in ocean freight may have peaked due to a drop in demand and an increase in supply. The introduction of new services on the Transpacific and Asia-Europe routes in July and August has improved capacity, reducing space constraints and lowering prices.

External Factors and Port Congestion

Unfavorable weather in South Africa and Typhoon Gaemi affecting China and Taiwan have caused delays and longer waiting times for vessels. Despite these challenges, congestion at major Asian ports has somewhat eased, potentially stabilizing rates.