Blank sailing surge on trans-Pacific appears inevitable

With U-Freight’s strong presence in the global container shipping arena, we note a report in the Journal of Commerce that container shipping lines are widely expected to announce a wave of blank sailings on the eastbound trans-Pacific trade in the next couple weeks, lest they fail to create a floor for falling spot rates ahead of China’s Golden Week.

The period ahead of the holiday that results in slowing Chinese production is the last opportunity of the year to stop a two-month dive in spot rates from Asia to the US West Coast.  

The JoC article says that ocean carriers thus far have been modest in blanking capacity despite rates falling sharply over the last two months and weak forecasts for year-end volumes. It adds that container lines plan to add capacity in October, injecting nearly 100,000 teu more than what will be deployed in September, according to data from maritime intelligence provider eeSea that is available via charts on JOC.com’s Gateway.  

To read the complete article, go to the following website:

https://www.joc.com/article/ocean-market-in-trans-pacific-arrives-at-spot-pricing-tipping-point-6073669

For more information about our ocean freight forwarding and logistics services, please visit the relevant pages of this website, or contact your local office, which can be seen here: https://ufreight.com/locations