How ocean shipping can improve delays and reliability
Schedule reliability and delays for container carriers are now steadily improving. Since COVID-19 and consumer demand has grown. Although there have been strikes at ports in some countries, and sometimes there will be delays under China’s epidemic control policy, the overall situation is getting better and better.
Global schedule reliability has been slowly improving compared to before. It also marks the first year-over-year increase in schedule reliability since the start of COVID-19. In June 2022, schedule reliability improved by 3.6 percentage points to 40%, according to the latest released data.
There was a marked decline in the second half of 2021, with two-thirds of vessels operating behind by the end of the year. While it continued the improving trend that started in February, this is the first time in 12 months that reliability has reached this level.
The average delay in 2022 has also improved a lot, but it has remained at 6.24 days for the past two months. It showed monthly improvement between January 2022 and May 2022, and was generally well below the nearly 8-day peak in January 2022 and the 6.9-day average for the whole of 2021. However, historically, the industry has had an average latency of between 4 and 4 days. 5 days.
Strong earnings from many leading operators contributed to the overall improvement. Among the 14 top airlines, schedule reliability improved by 2.5%, up 8% year-on-year, with some of the biggest gains coming from Asian airlines including EVA, COSCO, HMM and others.
Maersk and Hamburg SUD continued to have the highest schedule reliability, but both saw small declines year-on-year. However, they are still the only carriers with more than 40% reliability.
An improvement in 2022 could be a decline in cargo volumes reported by major airlines. However, port congestion persists and is expected to continue for at least the near future.
Adding to the challenge is a historic increase in shipping volumes in the coming months as retailers prepare for holiday sales, while uncertainties such as a possible strike at the UK’s largest container port and ongoing collective bargaining on the western coast of the US Worker.
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