Summary

Global ocean freight softened this week as demand from Asia to North America eased, resulting in the fifth consecutive weekly slip in spot rates and fewer blank sailings. U.S. and Canadian importers should note a slight easing of congestion at West Coast gateways, improved rate reliability, and a cautious build-up of sailings heading into late summer.

Highlights:

• Spot and contract rates have declined for five straight weeks.
• Blank sailings remain low (~4% of scheduled sailings), but overcapacity continues to pressure pricing.
  
  

Capacity & Congestion

Blank sailings across East–West trades now represent about 4% of scheduled sailings over the next five weeks, significantly lower than levels seen earlier in the year. The majority of these cancellations are concentrated on Trans-Pacific eastbound routes, which account for around two-thirds of the total.

Despite fewer blank sailings, overall global capacity remains ample. Vessel wait times at key U.S. and Canadian ports, including Los Angeles, Long Beach, and Vancouver, have stabilized. Terminal delays in Europe persist, but North American gateways are seeing modest improvements. Dwell times at Vancouver, in particular, have shown some relief.

Inbound volumes from Asia continue to moderate, as many importers frontloaded cargo earlier in the year. This softer demand outlook for Q3 is helping to ease port congestion and shorten lead times.

Quick Takes:

• Trans-Pacific blank sailings are down to ~4% of departures.
• U.S.–Canada port vessel wait times are stabilizing.
• Capacity utilization remains high, adding downward pressure on rates.
  
  

Pricing & Rates

Global container spot rates fell again this week, continuing a five-week downward trend. On Trans-Pacific routes, rates declined approximately 5% week-over-week, with broader global indices dropping by about 2–3%. Rates on the Asia–East Coast lane are also lower on a month-over-month basis.

Carriers appear to be holding back on additional General Rate Increases (GRIs) or Peak Season Surcharges (PSS), awaiting stronger booking signals for August before making pricing moves. As a result, previously announced rate hikes are being rolled back or not fully implemented.

Importers are increasingly opting for short-term contracts or remaining on the spot market to take advantage of declining rates and avoid longer-term rate commitments during a softening market.

Quick Takes:

• Spot rates down ~2–5% this week across key lanes.
• Peak-season surcharges are showing signs of easing.
• Shippers shifting to short-term agreements for pricing flexibility.
  
  

Carrier Strategy & Service Updates

Carriers continue to adjust capacity deployment in response to shifting demand. Several lines have either reduced frequency or temporarily suspended services, particularly on Trans-Pacific routes, to mitigate the impact of lower volumes.

Some carriers are reallocating vessels between trade lanes, moving capacity away from the Trans-Pacific where demand has softened, and back to Asia–Europe or regional markets. These shifts aim to maintain vessel utilization and stabilize rates.

Schedule reliability has improved moderately as blank sailings decline. Carriers are locking in more predictable sailing patterns heading into late July. In addition, niche express services tailored to e-commerce and high-priority cargo remain active but represent only a small share of total capacity.

Quick Takes:

• Carriers continue to fine-tune service frequencies on the Trans-Pacific.
• Some tonnage is being repositioned from Trans-Pacific to other trades.
• Schedule reliability is stabilizing as sailing patterns normalize.
  
  

Operational Disruptions

There were no major operational disruptions reported at U.S. or Canadian ports this week. Equipment availability, including chassis and reefer containers, remains stable. Tropical weather and other seasonal risks have had minimal impact on vessel schedules so far this month.

Quick Takes:

• No significant weather or port disruption events this week.
• Chassis and reefer equipment levels remain adequate across major ports.
  
  

Closing Note

Looking ahead, importers should monitor carrier behavior closely as capacity adjustments continue and rate volatility persists:

1. Monitor blank sailings and booking windows for August and September. Carriers may tighten capacity further depending on demand signals.
2. Use short-term pricing strategies to maintain flexibility. With spot rates trending downward, locking in long-term rates may not be optimal right now.

Congestion improvements on the West Coast and softening rates present an opportunity to optimize freight costs and reduce lead time variability. Stay proactive in coordinating with logistics partners to take advantage of the current window of stability.