The new analysis from Ursa Shipbrokers indicates that cargo ships are currently spending approximately 20% more time at sea than at the beginning of the decade, while also moving at slower speeds. These changes have gradually reduced the effective capacity of the fleet and altered trade patterns alongside rising freight rates.
Increased Duration of Ship Voyages
According to the analysis conducted using AXSMarine tracking data for cargo ships with a capacity of over 20,000 tons, the average voyage duration in June has increased to 22.42 days, which is 5.3% more than last year and 19.1% more than January 2020. Each of the monthly readings in the first half of 2026 has been higher than the corresponding months in the past six years.
Decrease in Ship Speeds
Meanwhile, the fleet of cargo ships is moving at slower speeds. The average loading speed in June has decreased to 10.67 knots, which is 2.2% lower than January 2020 and 9.4% lower than the peak recorded in August 2021. The speed of ships while loading has averaged 11.37 knots, which is 6.7% lower than the peaks recorded in October 2021.
Impact of External Factors on Trade Changes
Changes in trade distances have accelerated, especially since 2023. Drought restrictions in the Panama Canal and attacks on commercial ships in the Red Sea have forced ships to choose longer routes. Wars, sanctions, and changes in commodity sources have also significantly altered trade patterns.
These findings come at a time when the cargo freight market is currently experiencing its strongest period in recent years. Large cabotage ships have been particularly prominent in this situation, experiencing rates above $55,000 per day.
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