Weekly Ocean Operations Update: Asia to Europe, US and Australia 07/03/25

General overview:

March bookings remain weak with a forecasted slow recovery. Given this and to adjust their schedules to faciliate the changing global ocean freight alliances, the ocean carriers will continue to implement blank sailing schedules.

The weekly normal capacity for the FEWB trade lane to North Europe is approximately 335,000 TEUs. Week 10 saw a reduction of 6%, this will be followed by a 34% reduction in week 11. For week 12 will see a reduction of 6% and in week 13 there will be a 19% decline.

The Mediterranean’s weekly normal shipping capacity is about 213,000 TEUs. Week 10 had a decline of 3%, following this will be a 7% reduction in week 11. Week 12 will see a 5% decline and this will be narrow further in week 13 to 1%. 

A significant number of cargoes are being rolled or re-routed due to the transition to new services and alliances and the actual transit time per routing will become more clear about two months after the new alliances have settled. It remains uncertain how much Gemini will improve schedule reliability, but there are already noticeable service issues during the transition. 

Capacity for the TPEB trade line varies on region, for PSW (Pacific Southwest) rollover pool remains strong  and carriers are reducing the freight rates to maintain vessel demand full.  For NW (Pacific Northwest), vessel bookings remains full and due to severe weather in Canada, there will be expected vessel delays in the coming weeks. For USEC (US East Coast) bookings are strong for EC and GULF and space is manageable.

Overview by trade lane

FEWB summary:

Rate and capacity update as of March 7, 2025:

Oceania summary:

Rate and capacity update as of March 7, 2025:

Transpacific summary:

Rate and capacity update as of March 7, 2025: 

Asia port updates

Market intel: Europe

• Maersk and Hapag-Lloyd's alliance is off to a strong – and reliable – start. Judging by the first month, the Gemini Cooperation is on track for on-time delivery. But a lot of work lies ahead to meet the 90% reliability pledge. (Source: Shipping Watch)
• TPM: Weak Asia-Europe rates don't mean it's a weak market
• The recent spot rate weakness on the main east-west container routes should not be mistaken for a structurally weak market, liner analyst Lars Jensen told delegates on the final day of S&P Global’s TPM25 conference in Long Beach. He believed the falling market would be temporary, provided two main conditions were fulfilled: firstly, that there is no recession this year; and secondly, there is not a resumption of Suez transits.. “Reusing Suez will be good news for shippers, but it will bring with it port congestion in Europe that will further tie up vessel capacity.
• “In response, carriers will then want to turn their vessels faster, which will then create new problems two or three months later, in terms of equipment shortages in Asia – and that’s not bad news for carriers, but shippers should expect added surcharges. (Source: The loadstar)

Market intel: Oceania

• TC Alfred expected to hit Southeast Queensland Coast by 8 Mar 2025 and MSQ noticed all inbound and outbound movements will be suspended until further notice
• The terminal of Patrick, DP World, Hutchison Port and AAT in Brisbane has closed the imports and suspended the exports, expected resumption on next Monday 10 Mar 2025

Market intel: Americas

US Mexico and Canada tariffs - Expanding the goods exempted from his new tariffs on Canada and Mexico.

• US government has signed orders significantly expanding the goods exempted from his new tariffs on Canada and Mexico.
• On Wednesday,  US President Donald Trump said he would temporarily spare carmakers from 25% import taxes just a day after they came into effect. (Source: BBC)

Canada severe weather impact for PNW service.

• Canadian West Coast ports - Weather across Canada has improved over the past 7 days and both CPKC and CN Rail have lifted previously implemented tier restrictions.  (Source: Hapag-lloyd)

Equipment update by carrier

Correct at time of publication on March 7, 2025. Please find attached below.