Summary of the key market trends for this week:

Sea

  • Despite blanked sailings on major east-west trade lanes and a low SCFI index in the weak demand period post CNY, carriers are still struggling to fill their ships. As a result, spot rates are falling.
  • 13 Asia-North Europe sailings have been cancelled post-CNY (2M cancelled 6, Ocean and THE cancelled 3 each and HMM cancelled 1)
  • Asia-N. Europe rates fell by 8.3%
  • Asia-Med fell by 6.8%
  • Any further deterioration in spot rates could trigger capacity withdrawals
  • Further weakening of spot rates Asia-US, which have fallen by 14% since CNY