Ocean carriers in the eastbound trans-Pacific say capacity reductions they have implemented on the trade are likely to continue at least for the next five months because US imports from Asia are expected to remain muted through the Lunar New Year in February.<\/p>\n
For importers and forwarders, the blank sailings mean the resulting schedule disruptions and \u201crolling\u201d of cargo they are already experiencing at Asian load ports will force them to book more of their cargo with carriers they can count on to maintain schedule integrity.<\/p>\n
\u201cBlanks are making scheduling in the trans-Pacific unreliable. That\u2019s why Matson is doing so well,\u201d Jack Chang, president of the non-vessel-operating common carrier (NVO) CubeShip Consolidation, told the Journal of Commerce.<\/p>\n
Matson Navigation charges a premium for its two express services from China to Long Beach.<\/p>\n
\u201cWe try to protect our highest-priority cargo,\u201d said a home furnishings importer who did not want to be identified. \u201cWe use Matson specifically for that purpose.\u201d<\/p>\n
A Matson spokesperson told the Journal of Commerce the carrier has had \u201cno blanking to this point and no plans to blank,\u201d adding its bookings this month have been strong.<\/p>\n
Carriers, however, are emphatic that they will cancel even more sailings in the coming months if rates continue to move lower in the largest US trade lane.<\/p>\n
\u201cIf spot rates go too low, carriers will do what they\u2019re going to do \u2014 blank sailings,\u201d a second shipping executive told the Journal of Commerce.<\/p>\n
The Journal of Commerce spoke to five carriers, three NVOs, a third-party logistics provider and an industry analyst for this story.<\/p>\n
The Lunar New Year holiday, when factories in Asia normally close for a week or two, begins Feb. 10. That means the slack shipping season and softening of spot rates in the eastbound trans-Pacific will likely extend through the end of the year and into March \u2014 or well beyond, according to some industry analysts.<\/p>\n
\u201cWe will not see better rates than we have now,\u201d Michael Braun, vice president of customer success and solutions at rate analytics platform Xeneta, told the Journal of Commerce. \u201cWe won\u2019t see volumes coming back in 2024.\u201d<\/p>\n
Details please refer to JOC news.<\/em><\/p>\n Source:<\/p>\n Mongelluzzo, B. (2023, September 26). Aggressive trans-pac blank sailings likely through Lunar New Year amid freight downturn: Sources<\/i>. Journal of Commerce. https:\/\/www.joc.com\/article\/aggressive-trans-pac-blank-sailings-likely-through-lunar-new-year-amid-freight-downturn-sources_20230926.html<\/p>\n","protected":false},"excerpt":{"rendered":" Ocean carriers in the eastbound trans-Pacific say capacity reductions they have implemented on the trade are likely to continue at least for the next five months because US imports from Asia are expected to remain muted through the Lunar New Year in February. For importers and forwarders, the blank sailings mean the resulting schedule disruptions …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[78],"tags":[89,84],"class_list":["post-2759","post","type-post","status-publish","format-standard","hentry","category-news","tag-logistics","tag-maritime"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/comments?post=2759"}],"version-history":[{"count":1,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2759\/revisions"}],"predecessor-version":[{"id":2760,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2759\/revisions\/2760"}],"wp:attachment":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/media?parent=2759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/categories?post=2759"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/tags?post=2759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}