Carrier Schedule Reliability Returns to 2020 Levels as Backlogs Recede

While much of the attention has been on how the declines in container volumes have caused freight rates to plummet in 2022, it is also having a positive effect on the schedule reliability of the major carriers. In its latest monthly update, market research and data analytics firm Sea-Intelligence highlight that the container carriers’ reliability during October had its strongest monthly improvement, which is also being seen by the declining backlog of vessels at major container ports.

Sea-Intelligence CEO Alan Murphy reports that both schedule reliability and the average delay for vessels have returned to levels more consistent with 2020 than the levels seen over the past two years. Analyzing the performance across 34 different trade lanes and more than 60 carriers during October 2022, Sea-Intelligence shows that schedule reliability surpassed 50 percent for the first time in two years, while the average delay calculated in the number of days is at its lowest point since November 2020.

Overall, schedule reliability is up seven out of the last ten months, after plummeting to a historical low of just 30 percent at the beginning of 2022. The decline began in late 2020, reaching a point where less than one-in-three vessels were maintaining their schedules in 2021.

In October 2022, the average delay improved once again, dropping by another -0.31 days month-to-month to 5.56 days. The average for all of 2022, however, is still at 6.6 days, far above the historic average of around 4 days.

The 14 largest carriers all showed year-over-year improvements in their schedule reliability as well as month-to-month improvements versus September 2022. The strongest improvements continued to come from the carriers based in Asia, including ONE, COSCO, HMM, and Evergreen. Interestingly though, the largest carriers are also showing the best schedule reliability.

Maersk, for example, which in September was the only carrier above 50 percent improved by another three percentage points in October. MSC had one of the strongest month-to-month improvements jumping from just over 45 percent in September to nearly 54 percent schedule reliability in October. CMA CGM was the only other carrier above 50 percent in October.

Source: The Maritime Executive

To read the full original article, please go to: https://www.maritime-executive.com/article/carrier-schedule-reliability-returns-to-2020-levels-as-backlogs-recede

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