During the Journal of Commerce’s TPM23 conference in Long Beach this week, ocean carriers announced accelerated blank departures in the Transpacific after steamship lines’ failed to match supply with demand. Shippers can expect an increase in blank sailings this spring throughout March and April.
WHAT IS A BLANK SAILING?
To learn more about blank sailing, please read the following article:
FAQ: What is Blank Sailing and Why Does it Occur?
Industry experts believe that trade overcapacity will not be corrected by the upcoming blank departures, as it is forecast to increase 9% this year and another 9% in 2024.
SHIPPING RELIABILITY
Shipping reliability has never been at significantly good levels. However, it suffered heavily over the past few years, and although there have been improvements, it is still nowhere near ideal.
Industry specialists expect the market to take more time to adjust to the drop in demand, particularly on the transpacific route. Ideally, reliability in the sector should be at least 70%, with capacity predictable weekly and vessels not being diverted from some trades.
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