GLOBAL DEMAND
Global volumes remain steady, amidst regional import/export growth variations. Flat numbers compared to June 2024, continuing the trend seen since May. Far East trades to Europe and North America showing strength.
PORT CONGESTION
Port congestion keeps increasing due to adverse weather conditions, schedule disruptions and labour issues.
SCHEDULE RELIABILITY
In July 2024, global schedule reliability dropped by -2.1 percentage points M/M to 52.1%. Schedule reliability in July is almost at the same level as it was at the start of the year.
CAPACITY
Drewry expects blank sailings to increase from 70 in September to 92 in October, while effective ship capacity will decrease 3% MoM across major East-West trades.
RATES LEVELS
The monthly Drewry East-West Freight Rate Index decreased 7% to reach $5,910 for a 40ft box in August, ending its three-month rally. The decrease in Transpacific and Asia-Europe trade lanes drove the decline in the index.
BUNKER AND SUSTAINABILITY
Global bunker indices continued their moderate decline. This trend is expected to last for the following weeks.