Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.

Widespread port congestion triggers spike in blank sailings

Posted on May 20, 2024 |

Shipping companies were forced to cancel sailings due to extensive port congestion, despite strong demand and high freight rates, leading to a shortage of available vessels.

The recent wave of blank sailings was driven by limited vessel capacity, with the idle container vessel fleet at a very low 0.9% in April.

The blank capacity ratio between Asia and North Europe surged from 12% in March to 21% in April.

On the Asia-Mediterranean route, the blank capacity ratio changed from -17% in March to -8% in April.

Sea-Intelligence predicts a more stable capacity loss on the Transpacific route, with a reduction of about -14% to the West Coast and -11% to the East Coast for March and April 2024.

Ongoing port congestion and blank sailings have resulted in a significant shortage of vessel capacity, affecting global shipping operations.

Previous Next