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.