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While much of the attention has been on how 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 highlights that the container carriers’ schedule 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, 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.
Read more in an article from The Maritime Executive.