More scheduled sailings cancelled

Chamber of Shipping > Blog > News > US > More scheduled sailings cancelled

With the low volume of exports out of China due to the continuation of COVID restrictions, major ocean carrier alliances have announced cancellations of at least a third of their scheduled sailings out of Asia through early June, affecting Asia-Europe services more than transpacific. Asia – US West Coast rates fell 3% this week while Asia – North Europe prices were unchanged, though rates on both lanes have decreased by more than 20% since the first lockdown began in Shenzhen in March.  According to Freightos Weekly Update, there is no sign of slowing US demand for ocean imports. March set a new record for monthly container imports, and though volumes from April through August are expected to be below that level, imports this summer are projected to be higher than last year.  These volume increases may reflect the pull forward of peak season demand as importers try to get ahead of both the delays experienced last year and the possibility of additional slowdowns at West Coast ports in July when an important dockworker labour contract expires.

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