Fearing another container spot rate crash, ocean carriers have blanked a number of export sailings from Asia to Europe and Asia to the U.S., prior to the Chinese national holiday in early October.
A carrier contact said last week he expected to see “many more” void sailings this year in the key soft-demand weeks of the slack season.
“We are determined not to get sucked into another rates war this year, and as long as the Red Sea diversions continue we think we will be ok,” said the contact.
Drewry’s latest blanked sailings assessment puts the notified cancellation rate in September for scheduled sailings on the transpacific, Asia-Europe and the transatlantic at 10% to date.
Read more in an article from The Loadstar.