Summary

This week’s ocean freight market remains in a softening cycle, with steep drops in trans-Pacific spot rates and rising blank sailings, especially on Asia–North America West Coast (NAWC) trades. Carriers are responding to weaker-than-expected demand and overcapacity. Port congestion shows modest relief at Canadian and West Coast gateways, but service reliability remains fragile.

Highlights:

• Spot rates on Asia–USWC have fallen for five straight weeks, down ~2–3% this past week
• Blank sailings continue to accelerate outgoing from Asia into North America
  
  

Capacity & Congestion

• Blank Sailings: Asia–USWC trades continue to see rising levels of blank sailings as carriers suppress capacity in light of weakening demand.
• Utilization & Volatility: Capacity volatility remains elevated due to unpredictable blank sailings and vessel scheduling issues, complicating shipment planning.
• Port Operations: Reports suggest some easing of vessel dwell and queues at West Coast ports, while Vancouver shows improving dwell time. East Coast ports are operating with lower utilization.
• Inbound Volume Outlook: Importers have front‑loaded ocean orders earlier in the season; looking ahead, Q4 demand is expected to soften further.
  
  

Bullet Highlights:

• Rising blank sailings on Asia → USWC lanes
• High capacity volatility complicating scheduling
• Vancouver dwell improving; East Coast utilization cooling
  
  

Pricing & Rates

• Spot Rates: Spot rates continued their downward trend for the fifth consecutive week, with typical declines of 2–3% on Asia–USWC routes.
• Rate Trends & Forecast: The earlier June-driven rate spikes have largely reversed; spot rates are now down between 24–60% from peak levels on key Asia–North America trades.
• Carrier Messaging: No new general rate increases or peak season surcharge announcements were issued this week. Carriers are focusing on capacity management rather than pricing actions. Shippers continue to favor short-term contract options due to persistent uncertainty.
  
  

Bullet Highlights:

• Spot rates down ~3% week-over-week, fifth straight decline
• Asia–USWC rates down 24–60% off peak levels
• No new GRIs; carriers managing capacity to support price levels
  
  

Carrier Strategy & Service Updates

• Network Adjustments: Carriers are pulling back trans-Pacific capacity, responding to over-supplied schedules and softening demand.
• Reliability: Schedule reliability remains inconsistent; blank sailing adjustments continue to impact transit planning.
• Service Shifts: While few formal service changes were announced this week, some smaller carriers that had entered the trans-Pacific earlier in the year are now reducing activity due to lower rate incentives.
  
  

Bullet Highlights:

• Carriers trimming excess ACAP on Asia–USWC
• Schedule reliability remains volatile amid blank sailings
• Niche carrier interest into trans-Pacific now waning
  
  

Operational Disruptions

No major port closures or weather-related service disruptions were reported this week. Chassis and equipment availability remain stable across key North American ports, though schedule variability continues to present risks.

Bullet Highlights:

• No major port disruptions reported
• Chassis availability stable; blank sailing unpredictability persists
  
  

Closing Note

Importers should closely monitor blank sailings on Asia–USWC lanes, as these remain the primary lever carriers are using to balance excess capacity. Spot rates are easing, offering potential relief for short-term bookings. However, the unpredictable nature of service reliability and capacity shifts suggests that flexibility and proactive planning remain essential.

Recommendations for Importers:

• Track blank sailing updates and adapt booking plans accordingly
• Prioritize flexible contract terms to manage ongoing volatility
• Consider routing via East Coast or Canadian gateways to offset West Coast risks