Century Weekly Market Update Mar. 3 - Mar. 9

Welcome to the Century Weekly Market Update! We’re excited to bring you the latest news and insights from the supply chain and logistics industry over the past week.

Our weekly market update features a dedicated section on emerging industry trends and a report specifically focused on the frequency and impact of port omissions during blank sailings. These updates provide valuable insights to help supply chain decision makers navigate potential disruptions, optimize their supply chains, and stay informed about the latest industry developments.

Last week, the global container freight index decreased for the ninth week in a row to US$ 2,422. Maersk and CMA CGM’s APL agreed to exchange shipping slots on their Asia-US routes, a U.S.-flagged oil tanker, Stena Immaculate, collided with a Portuguese-flagged container ship, and the National Industrial Transportation League (NITL) has introduced the Ocean Shipper Bill of Rights. Additionally, BNSF Railway has significantly increased security efforts amidst a surge in organized cargo theft, with high-profile incidents involving valuable merchandise.

At Century, we're committed to helping our customers stay a step ahead in these rapidly changing market conditions. Our team of experts are dedicated to providing comprehensive and timely insights to help you make informed decisions and stay competitive.

Emerging Industry Trends:?

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Surge in Mega Vessels Signals Growing Supply Chain Focus on West Africa

• MSC is significantly increasing shipping capacity to West Africa by deploying vessels over 23,000 TEU, a shift from the previous trend of using smaller vessels on Asia-Europe routes.
• Since June 2022, the average vessel size on deep-sea services to West Africa has grown by 50%, reflecting a strong commitment to scaling up logistics in the region.
• MSC has led this expansion, deploying 26 large vessels (15,000+ TEU) to West Africa since January 2024, with 22 of them operating on its own standalone services.
• The growing emphasis on West Africa is driven by economic and demographic factors, as the region’s population is set to grow rapidly, with West Africa alone housing 30% of Africa’s 1.5 billion people.
• Over half of West African ports have experienced increasing connectivity in the past 18 months, improving the region’s accessibility and attractiveness for global trade.
• Sub-Saharan Africa’s economic growth is outpacing both global and advanced economies, reinforcing the region’s long-term potential as a key logistics and trade hub.

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Maersk Expands India Investments Amid Emerging Diversification in Supply Chains

• Maersk is investing US$ 5 billion in India’s ports and inland infrastructure to strengthen its logistics capabilities and support growing trade volumes.
• The company plans to enhance APM Terminals Pipavav, a major port in India operated by APM Terminals, by deepening the channel and expanding berths, positioning it for potential concession renewal in 2028.
• Increased competition from Adani Ports’ Mundra Port and other regional players is driving Maersk to expand its reach, including potential investments on India’s East Coast.
• The company is also prioritizing sustainability by deploying new dual-fuel methanol vessels, aligning with global trends toward greener shipping.
• Major competitors like MSC and CMA CGM have already secured key terminal partnerships in India, prompting Maersk to accelerate its infrastructure expansion to remain competitive.

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US Energy Policy Shift Fueling Growth in EPC Project Cargo Activity

• Engineering, procurement and construction (EPC) companies anticipate increased project cargo activity in 2025 due to a federal push for expanded oil and gas development.
• KBR expects double-digit revenue growth, driven by major defense contracts and LNG projects, including a US$ 10 billion deal with TechnipFMC.
• TechnipFMC forecasts US$ 30 billion in subsea energy orders by 2025, with a strong focus on undersea oil and gas extraction.
• Worley sees moderate growth despite market uncertainty, as policy shifts and geopolitical tensions continue to disrupt energy transition projects.
• Fluor is pivoting toward datacenter construction, leveraging its expertise in power generation to meet rising energy demands.
• The removal of the US ban on new LNG exports has cleared project delays, improving outlooks for companies like Worley and KBR.

Weekly Blank Sailings Report:?

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Century’s Blank Sailings Report for the week of March 3rd – March 9th. Discover the latest insights on the current trend of blank sailings through the most up-to-date carrier data direct from Century.

• Last week saw a total of 834 port omissions, a 9.3% increase compared to the week prior.
• Ningbo recorded the highest amount of port omissions last week with 64, followed by Shanghai with 57 and Busan with 51.
• Other ports with notably high omissions last week are Singapore with 44 and Shekou with 33.
• Mundra saw a significant increase in blank sailings W/W, increasing by 85% from 7 to 13 blanks.
• Looking towards the coming weeks, Century’s data shows a 6.1% decrease in currently scheduled blank sailings for week 11.
• Next week’s preliminary data shows notable increases in port omissions to be expected at ports in Valencia and Hamburg.

Port omissions data for the most frequently omitted ports during week 10 can be found in the table below:

Our?full Blank Sailings Report for the week of March 3rd – March 9th below provides a full list of every current scheduled port omission from Week 10 to Week 20 as of March 10th. The second tab breaks down this data into an easy-to-read table which shows port omissions by?each location per week so you can see which locations are being omitted the most and which locations are experiencing the sharpest increase in port omissions.

Century consistently strives to enhance customer satisfaction by proactively addressing challenges in the shipping process. In our commitment to securing space for our valued customers amidst ongoing carrier constraints, our dedicated operators diligently undertake additional measures. After working through meticulous analysis of Carrier Booking and the Actual Shipped Ratio, we found that our teams are currently, on average, making two carrier booking requests per container in order to help ensure our customers' cargo flows as smoothly as possible.

Click here to DOWNLOAD the full Week 10 Blank Sailings Report?

Week in Review:?

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Global Container Freight Index Sees Decline for 9 Consecutive Weeks

• The Global Container Freight Index decreased again by 11%, reaching US$ 2,422 last week.
• Rates from China/East Asia to North America East Coast reduced by 16% W/W to US$ 3,754.
• Rates from China/East Asia to North America West Coast dropped by 25% W/W to US$2,659.
• This week, multiple routes saw significant decreases and only three major routes saw increases.
• All trans-Atlantic routes saw rate decreases or steady rates W/W.

Maersk and CMA CGM Swap US-Flag Ship Slots Amid Rising India-US Rates

• Maersk and CMA CGM’s APL (American President Lines) agreed to exchange shipping slots on their Asia-US routes, ensuring compliance with US cargo preference laws that mandate a portion of government-related cargo move on US-flagged vessels.
• Under the deal, APL will provide Maersk with 210 TEU slots on its fully US-flagged Transpacific Eagle Express 1 (EX1) service, while Maersk will offer APL 100 TEU slots on its MECL service connecting India to the US East Coast.
• The agreement strengthens CMA CGM’s position in the India-North America trade by adding a second service alongside its existing Indamex loop, intensifying competition for market share.
• The US Federal Maritime Commission has approved the slot exchange, which also allows for additional space swaps on an ad hoc basis for government-preferred cargo.
• Maersk’s MECL service recently began calling at Mundra, enhancing its capacity for Indian exports and increasing options for shippers moving goods from West India to North America.
• Major carriers, including Maersk, CMA CGM, and MSC, are successfully increasing India-US East Coast freight rates through strategic sailing reductions, with MSC set to raise prices by US$ 1,500 per container starting April 1.

Tariff Uncertainty Creates Cross-Border Disruptions and Delays at U.S.-Mexico Border

• Although tariffs remain suspended for U.S.-Mexico-Canada Agreement-compliant imports until April 2, border delays have increased, complicating cross-border trucking operations.
• Carriers report longer wait times at all border crossings, particularly to and from Mexico, with reasons for delays unclear, but companies are keeping customers informed.
• With the pause on tariffs, freight volumes surged as shipments that were held back to avoid high duties were released, leading to congestion at border crossings and a spike in spot rates.
• There is an increasing trend of shippers seeking U.S.-Mexico-Canada Agreement (USMCA) exemptions, as compliance with USMCA requirements can prevent new 25% tariffs.
• Shippers are adjusting their strategies, such as breaking shipments into separate components to minimize duty payments on tariff-affected items, adding complexity to cross-border logistics.
• The new tariffs and the complexity of managing duty payments have created challenges for customs brokers and companies trying to maintain compliance while managing costs.

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U.S.-Flagged Tanker Collides with Container Ship, Spills Jet Fuel in North Sea

• A U.S.-flagged oil tanker, Stena Immaculate, collided with a Portuguese-flagged container ship, resulting in a jet fuel spill and multiple explosions.
• The tanker was carrying about 140,000 barrels of jet fuel when the crash occurred, leading to an ongoing major response operation coordinated by the local coastguard.
• The environmental impact of the spill remains uncertain, depending on the amount of fuel released, the type of jet fuel, and weather conditions.
• While jet fuel is less flammable, it can burn if the spill is large enough, but it will also naturally disperse through evaporation and wave action.
• If all of the jet fuel spills, it could result in an 18,000-ton petroleum spill, though this would still be significantly smaller than previous historical spills.
• Emergency services, including rescue helicopters and lifeboats, are actively involved in the response, and assessments of the pollution impact are underway.

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CMA CGM Receives First Dual-Fuel Methanol Vessel as Part of Green Shipping Initiative

• CMA CGM has received its first dual-fuel methanol vessel, the CMA CGM Iron, marking a key step in its US$ 2 billion deal with Hyundai Samho Heavy Industries.
• The CMA CGM Iron has a capacity of 13,000 TEUs and will be joined by 11 more dual-fuel vessels over the next two years, enhancing CMA CGM's fleet.
• This initiative aligns with CMA CGM's goal to reach net-zero carbon emissions by 2050 and contributes to the broader decarbonization efforts in the shipping industry.
• The CMA CGM Iron started its maiden voyage on March 4, 2025, from Singapore, with its destination set for the UAE’s Khalifa port, before joining Asia-Middle East Gulf services.

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CMA CGM to Invest $20 Billion in U.S. Infrastructure, Creating 10,000 Jobs

• CMA CGM will invest US$ 20 billion in the U.S. over the next four years to expand maritime infrastructure, logistics, and terminals, creating an estimated 10,000 new jobs.
• The investment includes increasing the U.S.-flagged fleet of American President Lines from 10 to 30 vessels and developing U.S. port infrastructure in key locations such as New York, Los Angeles, and Houston.
• The company also plans to build a logistics center in Boston, an air cargo hub in Chicago, and expand warehousing capabilities.
• CMA CGM’s expansion aims to reduce vulnerability to U.S. trade and maritime policies, while the company also explores investing in U.S. shipbuilding.
• President Trump is expected to announce a new government program to promote shipbuilding in the U.S. and offer tax incentives to attract the industry back to the country.

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CK Hutchison Sells Majority Stake in Global Ports Network to BlackRock and MSC for US$ 22.8 Billion

• CK Hutchison has agreed to sell its majority stake in Hutchison Port Holdings’ global terminals network, including the Panama Ports Company, to a consortium involving BlackRock and Mediterranean Shipping Co. for $22.8 billion.
• The deal includes HPH’s 90% stake in Panama Ports, which operates the Balboa and Cristobal ports, as well as an 80% stake in 43 ports across 23 countries, including key terminals in the UK, South Korea, and Mexico.
• The Trump administration had scrutinized Hutchison’s control of the Panama Ports, raising concerns over Chinese influence, though Hutchison denied these claims and emphasized the sale was unrelated to political tensions.
• Hutchison’s ports in China and those operated by HPH Trust in Hong Kong and South China are not part of this deal.
• The transaction, one of the largest in port sales history, is expected to be finalized by April 2 for the Panama Ports Company, with no set timeline for the remaining ports portfolio.
• Mediterranean Shipping Co.’s Terminal Investment Limited (TiL), formed in 2020, will expand its global terminal capacity with the purchase, increasing its annual handling capacity to over 65 million TEUs.

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NITL Proposes "Bill of Rights" to Enhance Transparency and Accountability for U.S. Shippers

• The National Industrial Transportation League (NITL) has introduced the Ocean Shipper Bill of Rights (OSBOR), aiming to improve transparency and accountability in ocean shipping by focusing on pricing, equipment availability, and contract compliance.
• OSBOR consists of 14 rights designed to help small- and medium-sized shippers gain better bargaining power and compete more effectively with larger freight carriers.
• The proposal includes clearer, more equitable practices to eliminate ambiguity around pricing structures, delivery times, and shipment details to foster better collaboration in the industry.
• The NITL has not yet decided whether it will push for legislation requiring OSBOR to be included in ocean freight contracts or simply recommend that shippers negotiate these points individually with carriers.
• NITL is working on a model ocean carrier contract to complement OSBOR, but for now, the document serves as a starting point for advocacy discussions and negotiations with ocean carriers.

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Global Wind Turbine Manufacturers Face Challenges Despite Growth, with Defects and US Policy Shifting Focus

• The US wind industry is facing delays in offshore and onshore projects due to changes in government policy, including a freeze on approvals and permits for federal land-based and offshore wind projects.
• Despite these challenges, wind turbine manufacturers Nordex and Vestas are optimistic about growth in the US, with Nordex projecting a 78% increase in North American turbine installations by 2025.
• Siemens Gamesa and GE Vernova continue to deal with equipment defects, with GE Vernova suffering losses due to turbine failures, including a fatal incident at a Nebraska wind farm.
• GE Vernova’s offshore wind business saw a decline in 2024, with US$ 1 billion in lost contracts, but its onshore wind business showed strong performance, particularly in repowering orders.
• Vestas remains committed to increasing US investments, focusing on its onshore backlog, which is secured through 2026, despite the halt in offshore projects under new US policies.

Sources:

Sea Intelligence

JOC

JOC

Freightos

JOC

SupplyChainDive

JOC

SupplyChainBrain

SupplyChainBrain

JOC

JOC

JOC

SupplyChainBrain