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Drewry: Sailing cancellations boost rates by 7 percent

Container carriers have cancelled close to 150 sailings on the Pacific and between Asian and Europe from October 2012 to February this year. The strategy is not new, but the duration is, writes Drewry.

Photo: APM Terminals

Container carriers have cancelled close to 150 sailings on the Pacific and between Asian and Europe from October 2012 to February this year, and the strategy has had a significant impact on the freight rates, says shipping analysts Drewry in the Container Insight Weekly.

In addition to boosting the utilization rate of the ships on the two major trade lanes, the cancellations have also raised the spot rates by seven percentage points.

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