Down! Halt! The number of golden Week flights began to double! ?

The latest edition of Drury's Global Shipping Market report provides data showing that the decline in the World Container Freight Rate Index (WCI) has widened again, falling 7.1% last week to $1,561.3 /FEU.

The cancellation rate of shipping companies is as high as 16%

According to the latest data from Drury, of the 665 scheduled sailings on major routes such as Trans-Pacific, Trans-Atlantic and Asia-Nordic and Mediterranean routes, 104 sailings have been announced for the 38th week (September 18-24) to 42nd week (October 16-22), a whopping 16 percent cancellation rate

It is worth noting that just two weeks ago, Drewry announced that the highest number of canceled trips announced by the shipping company was only 45 (normal around 30), and now, the number of suspended flights has directly doubled or tripled!

Drury's data shows that between Week 38 (September 18-24) and Week 42 (October 16-22), 57% of blank voyages will occur on trans-Pacific eastbound routes, 37% on Asia-Nordic and Mediterranean routes, and 7% on trans-Atlantic westbound trade.

Specific to THE next five weeks of the suspension arrangement, of which the Ocean alliance announced 35 cancellations, 2M alliance announced 19 cancellations, THE alliance announced 18 cancellations, non-alliance shipping companies announced 32 cancellations.

Demand remains weak

Drury said that in the lead-up to China's Golden Week holiday (Oct 1-7), shipping companies had been forced to take aggressive action by adding empty voyage as spot rates continued to fall while demand remained weak.

The Golden Week holiday traditionally sees a surge in orders ahead of a week-long factory shutdown. But given that the outlook after Golden Week remains bleak, operators are likely to make greater adjustments to deployed capacity.

Recently, MSC said that "in light of low demand," it would once again suspend its standalone Asia-Nordic Swan route, this time for six consecutive weeks, from week 37 to week 42 in mid-October.

In addition, MSC will also cancel three consecutive voyages on its Asian-Mediterranean Dragon route, namely Weeks 39, 40 and 41.

In addition, Maersk issued a notice that it will start its Asia-Europe route suspension plan in the 39th week, canceling the AE55 route scheduled to depart from Shanghai on September 30.

In addition to the large number of cancellations by MSC and Maersk, CMA CGM's new Asia-Mediterranean TLX route, which opened only six times, fell victim to falling freight rates.

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