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Shipping companies cancel nearly 200 voyages! New US tariff policy causes turmoil in the maritime market | Maritime export logistics
Apr 10,2025
The global shipping industry is plunged into a storm of unprecedented proportions, and the culprit is the new U.S. tariffs.
According to the latest data from Drewry, a leading shipping consultancy, the wave of cancellations by shipping lines has intensified, soaring to 198 cancellations in March and April, up from 135 cancellations in the same period in 2024, with key routes such as Asia-West Coast, North America and the transatlantic being particularly affected.
In previous years, shipping companies canceled many flights in February due to the Chinese New Year, but this year there were still "constant stoppages" in March and April. Drewry analyzed that the main reason behind this is that U.S. importers faced tariff uncertainty and were wary of buying from Asia, so freight volumes fell sharply, and flight cancellations naturally increased.
Philip Damas, Head of Supply Chain Consulting at Drury, revealed:“In January-February, freight volumes were strong, and early loading was helped, and shipping companies thought they could go on high, but then freight volume dropped sharply, imports slowed year-on-year, and "blank" shipping occurred frequently. And shipping companies and shippers are now negotiating new service contracts starting May 1, and capacity appears to be tight, and some companies are canceling flights to "pave the way" for higher contract rates.”Even the transatlantic route has not been spared, with about twice as many cancellations during the same period of the year as last year.
Damas pointed out that the small proportion of annual contract negotiations on this route, tariff uncertainty and declining freight volume, directly doubling the number of cancelled flights. The latest intelligence shows that on the East-West main trade route, from the 15th week of April - 13 to the 19th week of May - 11, a total of 77 flights "failed," a cancellation rate of 8%.
Drewry predicted that the Trans-Pacific Eastern route would likely have the most cancellations in the next five weeks, accounting for 53 per cent, followed by the Trans-Atlantic West route and Asia - Northern Europe and Mediterranean route at 25 per cent and 23 per cent respectively.
The global tariff wave set off by Trump's "liberation day" has thrown shippers into a dilemma.
Renowned analyst Lars Jensen put it bluntly:“The future is now confused, and the shipper is in a desperate situation. Now that we are shipping, we are afraid that we will lose money due to the tariff cancellation, but we will not ship because we are afflicted with a critical inventory. Shipments are early, tariffs are high, and prices may rise again. There is clearly a strong wait-and-see sentiment among U.S. importers, who can delay as long as the supply chain and inventory allow.”
He also warned: "If bookings collapse, shipping companies could increase 'blank flights' to the US at the last minute, just as when the coronavirus hit in 2020, demand dropped and carriers moved quickly."
The National Retail Federation has also called out, imploring President Donald Trump to take a fresh look at trade policy. David French, the federation's executive vice president, stressed:“For American businesses and consumers, more tariffs mean nothing more than anxiety and unease. The tax is ultimately passed on to household expenses, and Washington politicians don't care. People are worried. What's more, in a rushed implementation, where will millions of affected businesses have time to prepare?”
Today, global trade is struggling to move forward under the shadow of tariffs, and all parties are waiting to see how the future develops.
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