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Wednesday, 10/04/2024, 04:36 (GMT +7)
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Reliability of global container shipping schedules improved
The reliability of container shipping lines' schedules improved in February as diversions from the Red Sea to avoid Houthi attacks began to normalize.
(Source: Atlasobscura)
Analysts from Sea-Intelligence reported an improvement in global cargo schedule reliability for container shipping lines in February 2024 by 1.7 percentage points from January to 53.3%.
“After a tumultuous few weeks in the wake of the Red Sea crisis, some form of stability has ensued, with the round-Africa routings now normalising,” commented Alan Murphy, CEO of Sea-Intelligence.
However, although schedule reliability improved month-on-month, the situation in the Red Sea reduced reliability by 6.9 percentage points compared to the same month in 2023.
The most reliable container shipping line in February 2024 among the top 13 lines was Hapag-Lloyd with a schedule reliability of 54.9%. Sea-Intelligence said a further seven shipping lines passed the 50% threshold, with the remaining carriers all falling between 40% and 50%.
The lowest among the top shipping lines is Pacific International Lines (PIL) with a score of 45.3%.
The average global schedule reliability is 53.3%, still lower than 64.4% in September last year, and peaked at 66.8% in May 2023.
The major shipping lines have now fixed their routes via the Cape of Good for the future with adjusted schedules becoming the norm in most cases and there is no sign of the situation resolving.
Commenting on schedule reliability in a report for Baltic Exchange, Lars Jensen, CEO at Vespucci Maritime, said: "The expectation should be further improvements in the coming months as vessels are now settled into the new round-Africa services where planned transit times are longer, but it should allow for more timely services in accordance with these new schedules."
(Source: Sea-Intelligence)
Source: Phaata.com (According to Sea-Intelligence)
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