15 Jan Are Blank Sailings A Sign Of Things To Come?
The first seven weeks of 2023 has seen 50+ Asia-Europe westbound sailings cancelled, with the chance that carriers could decide to blank more sailings if demand continues to decrease more than expected.
According to Alphaliner, Ocean Alliance members CMA CGM, Cosco, OOCL and Evergreen have voided 23% of its Asia-Europe head haul voyages, 22% of its North Europe sailings and 25% of its Asia-Mediterranean voyages for the period 1 January to 17 February 2023.
Other shipping organisations such as MSC, Maersk, Hapag-Lloyd, ONE and more have all blanked significant percentages of their sailings (ranging from 14% through to 36%) across all routes.
Data from Container Trade Statistics for November 2022 reveals cargo volumes from Asia to Europe fell 18.4% after a slump of 25.9% in October, but there are suggestions that the most recent data could indicate much larger slumps.
Businesses are advised to closely monitor their inventory and supply chains so they are better equipped to navigate the potential challenges that may arise throughout 2023 and adapt to the changing market conditions until we reach a normalisation in stock levels, economic outlook and consumer habits.
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Rachael Budd & The Transolve Global Team