January 2021 schedule reliability of 34.9% extends lowest record
Sea-Intelligence has published issue 114 of the Global Liner Performance (GLP) report, with schedule reliability figures up to and including January 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.
Global schedule reliability dropped to 34.9% in January 2021, which means that for the sixth consecutive month, global schedule reliability has been the lowest across all months since Sea-Intelligence introduced the benchmark in 2011. Compared to January 2020, schedule reliability is -33.5 percentage points lower, and it is the sixth consecutive month that we have recorded a double-digit Y/Y decline. We also see a similar trend with the average delay for LATE vessel arrivals, which has recorded consecutive M/M increases for the past five months, reaching 6.42 days in January.
In January 2021, Hamburg Süd was the most reliable carrier with 46.5% schedule reliability. However, we can see in figure 3 how significant the deterioration is compared to January 2020. None of the carriers recorded a M/M or a Y/Y improvement in schedule reliability. COSCO recorded the largest M/M decline of -13.9 PP (one of the 9 carriers with a double-digit decline) while HMM recorded the largest Y/Y decline of -53.3 PP (with all carriers recording double-digit declines). With continued widespread port congestion, and with carriers still not letting off capacity-wise (especially on the major trades) not even for Chinese New Year, shippers might not see improving schedule reliability anytime soon.
Source: Sea Intelligence