Global transportation demand continues to decline, and shipping companies continue to suspend shipping in large areas to reduce shipping capacity. It was previously reported that only one of the 11 ships in the Asia-Europe route of the 2M Alliance is currently operating, and the “ghost ship operation mode” (only one ship in the Asia-Europe route!), almost the entire fleet has disappeared. According to feedback from industry insiders, the near-term outlook for the Asia-Europe route is “severe”, and the industry has never seen such a sluggish demand for many years.

Of the total 707 scheduled voyages on the major trade lanes across the Pacific, Transatlantic and Asia to Northern Europe and the Mediterranean, according to the latest data from Drewry, in weeks 2 (January 9-15) to week 6 (149 voyages were canceled during the five weeks from February 6 to 12, accounting for 21% of the cancellation rate.

During this period, 58% of suspensions occurred on the trans-Pacific eastbound trade, 31% on the Asia-North Europe and Mediterranean trade and 11% on the trans-Atlantic westbound trade.

Over the next five weeks, THE Alliance has announced cancellations of up to 54 voyages, followed by the Ocean Alliance and 2M Alliance with 46 and 17 voyage cancellations respectively. During the same period, non-shipping alliances imposed 32 suspensions.

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