Ocean liner reliability continues to improve
The latest ocean liner data on reliability reveals that service standards improved throughout the second quarter as demand picked up, although they still lag significantly behind those of 2019.
According to Issue 107 of Sea-Intelligence’s monthly Global Liner Performance (GLP) report, global schedule reliability increased by 3.1 percentage points month-on-month in June 2020 to 77.9%, although it still trailed the June 2019 figure by 5.6 percentage points (insert first chart attached).
“This continues the upwards trend in schedule reliability suggesting that the pandemic-induced blank sailings have not had a negative impact as expected,” noted Alan Murphy, CEO of Sea-Intelligence.
Previously, Sea-Intelligence indicated that improving schedule reliability might be the result of fewer vessels per service string being easier to manage, and that a demand resurgence might see schedule reliability drop.
According to Murphy, with blank sailing levels falling as carriers are ramp up capacity - especially on the Transpacific where capacity is scheduled to climb by 7% year-on-year in Q3 - “we will find out soon enough” if carrier reliability improvements are sustainable.
However, even though overall reliability is picking up, global average delays for late vessel arrivals in 2020 remain far higher than in 2019 and 2018 (insert second chart attached).
“The average delay for late vessel arrivals - vessels that arrived late - has been consistently high, despite improvements in schedule reliability,” said Murphy.
Of the top 15 deep-sea carriers, APL was the most reliable in June 2020 with schedule reliability of 87.1%, followed by Hamburg Süd with 84.4%. PIL recorded the lowest June 2020 schedule reliability of 69.0%.
“Of the 15 carriers, 13 recorded a month-on-month improvement in schedule reliability,” noted Murphy. “ZIM and Hamburg Süd were the only two carriers to record a month-on-month decline, albeit of under 1.0 percentage point.
“Yang Ming was the only top-15 carrier to record a year-on-year improvement in schedule reliability, with PIL and HMM both recording double-digit declines.”
© 2019 Worldfreightrates News