Carriers have arrested the slide in schedule reliability in February
Sea-Intelligence has published issue 115 of the Global Liner Performance (GLP) report, with schedule reliability figures up to and including February 2021. As the report itself is quite comprehensive and covers schedule reliability across 34 different trades lanes and 60+ carriers, this press release will only cover the global highlights from the full report.
Carriers have arrested the slide in global schedule reliability, as the February 2021 figure of 34.9% is marginally higher M/M than the 34.8% in January 2021. That said, it is still the lowest recorded figure for any February, and now the seventh consecutive month that schedule reliability has been the lowest for that respective month. Compared to February 2020, schedule reliability was -30.0 percentage points lower Y/Y, with this being the seventh consecutive month that we have recorded a double-digit Y/Y decline. The average delay for LATE vessel arrivals, has been on an increasing trend for six months, increasing M/M in February 2021 to 6.76 days, which is the highest recorded delay ever.
In February 2021, Maersk Line was the most reliable carrier with 44.2% schedule reliability, and Yang Ming recorded the lowest schedule reliability of 19.6%. We can see in figure 3 how significant the deterioration is compared to February 2020. Only 6 carriers recorded a M/M improvement, while none recorded a Y/Y improvement. ZIM recorded the largest M/M improvement of 2.8 PP and Wan Hai recorded the largest M/M decline of -7.1 PP. HMM recorded the largest Y/Y decline of -46.0 PP (with all carriers recording double-digit declines). With continued port congestion, and now with the Suez Canal blockage, we will likely continue to see high delays in March 2021.
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All quotes can be attributed to: Alan Murphy, CEO, Sea-Intelligence.
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