Box Rates Up 332% Year Over Year
July 7, 2021
In the first five months of 2021, 401 vessel arrivals on the transpacific and 144 on Asia-Europe were over 14 days late, according to data from Sea-Intelligence. Putting these numbers in perspective, the combined 2012 to 2020 total of such late vessel arrivals was 388 on the transpacific and 69 on Asia-Europe.
“In the past few months, schedule reliability has been largely consistent, albeit at an extremely low level of 35%-40%, compared to a long-term average of around 75%,” Sea-Intelligence noted in its most recent weekly report.
The average delay for vessel arrivals that were marked as late remains extremely high globally, at close to six days, compared to a long-term average of around four days.
Liners have gone public recently, admitting that the current late arrivals situation is not good enough.
Earlier this month Hapag-Lloyd launched an initiative to provide full transparency on its schedule reliability.
“We are fully aware that our industry is currently facing the worst operational crisis in more than a decade and that we are far from delivering the absolute levels of service that you would expect from us and the entire industry,” the German carrier stated in a note to clients.