Prime Freight’s summary of an October 2022 report by The Loadstar. Read the original for the full story.
In October 2022 The Loadstar reported that ocean carriers were blanking more sailings from Asia as export demand weakened, and that last-minute cancellations were confusing shippers and even carriers’ own local offices.
Besides officially announced blank sailings, carriers were pulling voyages days before arrival in China and holding ships off the loading port, a practice known as sliding. A UK forwarder described China sailings as luck of the draw, and an Irish contact said one shipment’s mother vessel had been changed four times after the feeder left Dublin, forcing repeated document amendments. Constant network changes also disrupted berthing plans at North European hubs and connecting feeder and barge services.
Drewry’s container research lead said blank sailings alone would not stop rates falling; carriers would also need more scrapping, possibly a record 600,000 TEU in 2023, and delays to some of the 2.6 million TEU of new ships due that year. He warned that heavy-handed capacity management could draw regulators’ attention, with the EU reviewing its consortia block exemption, due to expire in April 2024.
What it meant for shippers
When carriers cut capacity at short notice, the booked vessel may not sail as planned. Confirming vessel and voyage details close to cut-off, and keeping documentation easy to amend, reduces the risk of delays.