The new report from Sea-Intelligence showing the performance for October shows a new record-low as global schedule reliability reach 52.4%.
The drop in performance is widespread as sharp declines on a year-on-year basis is seen for all 32 trades measured in the report.
The “best” performance compared to same period last year is seen for Europe-South America where the decline has been 4.1 percentage points.
At the other end of the scale we see a much more severe collapse in schedule integrity in the trade between Asia and Oceania where the drop is more than 50 percentage points and only slightly more than 20% of the vessels were on time. On top of all other market issues, this was also severely impacted by the port strike in Sydney.
The decline has been almost as severe on the Transpacific to the USWC where performance is down 43 percentage points compared to last year.
This is a knock-on effect of the pandemic rebound where people are redirecting their spending away from services and into goods, creating a very sharp demand boom – which in turn is now causing shortage of equipment, shortage of some vessel types, port congestion and more time spent in port to load/unload the booming amounts of cargo.
Source:Lars Jensen
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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