In the major East-West headhaul trades, including transpacific, transatlantic, and Asia-North Europe & Med, 39 sailings have been canceled between 27 May-2 June and 24 June-30 June out of 651 scheduled, resulting in a 6% cancellation rates.

During this period, the majority of cancellations included 44% on the transpacific eastbound route, followed by 36% on Asia-North Europe and Med, and 20% on the transatlantic westbound trade.

In the next five weeks, the 2M Alliance announced nine cancellations, while THE Alliance and OCEAN Alliance each announced seven. Additionally, non-Alliance services implemented 16 blank sailings during the same period.

Drewry’s Composite Freight Index surged by 16% week-on-week to US$4,072, with rates on Asia-Europe and Med routes increasing by 17%, transpacific by 15%, and transatlantic by 1%.

The recent 49% surge in rates is attributed to port congestion in Asia, heightened US import demand, and ongoing Middle East tensions. Carriers anticipate this trend to continue despite no significant drop in capacity year-over-year.