Ocean rejection rates spike as bookings fall
(Chart: SONAR Container Atlas)
Much of the focus the past several days has been on the drop in ocean bookings from China to the U.S., and with good reason. The SONAR Ocean Booking Volume Index from China to the U.S. is now down about 50% year over year, roughly in line with the reported average from ocean carriers and other data sources. A FreightWaves article published last week goes into detail.
(Chart: SONAR Container Atlas)
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https://www.freightwaves.com/news/ocean-carriers-blank-sailings-as-bookings-drop