Due to affected by factors such as war and conflict, global COVID-19, weak demand and inflation, container freight rates in the shipping market continued to decline. MSC, CMA CGM, ZIM and other carriers issued notice of omit port & cancelled sailings.

Freight rates keep falling

Drewry composite index decreased by 0.9% to $7,874.43 per 40ft container, but is 60.3% higher than the same week in 2021. Read more at :

In terms of routes, compared with the previous week, the spot rate from Shanghai to Rotterdam decreased by 2% to US$10,364/FEU, from Shanghai to New York by 1% to US$11,229/FEU, and the spot rate from Shanghai to Los Angeles remained basically unchanged at 8,758 US dollars. USD/FEU.

Drewry expects spot rates to remain stable in the coming weeks.

Among them, the freight index of the European route was 4307.4 points, down 1.8% from last week, and some carriers reduced their rates slightly to attract the supply of goods; the supply and demand of the North American route was stable, and the market freight rate remained high. It fell by 0.2% last week, and the freight index of the US-Western route was 4952.0 points, down 0.1% from last week; most carriers in the Middle East route cut rates to attract cargo, and the index of the Middle East route was 2193.9 points, down 3.1% from last week.

According to reports, carriers have explored the profit model of "removing shipping capacity and maintaining freight rates", and the capacity of the three major shipping alliances accounts for more than 80% of the total global capacity, and the ability to adjust freight rates by increasing or decreasing capacity is stronger.

78 sailings were canceled, MSC, CMA CGM, and ZIM issued the notices of omit port & cancelled sailings

According to Drewry's latest Voyage Cancellation Tracker report, there were 725 scheduled sailings between week 17 and week 21, which began on April 25, on major trans-Pacific, trans-Atlantic, Asia-Nordic and Asia-Mediterranean routes 78 voyages were cancelled, with a cancellation rate of 11%. Among them, the cancellation rate of blank sailing on the trans-Pacific eastbound route is as high as 64%, and the main destination is to the West of the America.

During this period, the three major alliances canceled a total of 55 sailings, of which THE alliance announced the cancellation of 24.5 sailings, the 2M alliance and the ocean alliance cancelled 18 and 12.5 sailings respectively.