The reliability of regular shipping companies fell to its lowest level

The reliability of the container shipping schedule of container shipping companies decreased, in 2021, to 35.8%, the lowest level of all times, from 63.9%, in 2020, and from 78.0%, in 2019. Moreover, the average delay for all ship arrivals increased significantly, in 2021, and exceeded the limit of 4 days, for the first time. According to Sea-Intelligence analysts, the supply chain disruptions caused by Covid-19, as well as other events, such as the temporary closure of the Suez Canal, last March, have led the reliability of container transport to historically low levels. None of the top 14 largest container-liner companies recorded a schedule reliability of more than 50% in 2021.

Meanwhile, the latest release of the Xeneta Shipping Index (XSI) Public Indices Report showed a 3.6% reduction in long-haul fares, in January. In particular, the analysis of the information platform, which was based on data from a number of regular line companies, showed the second consecutive monthly fall in prices, after a surprisingly continuous 14-month increase.

However, despite the decline, fares are still higher by 98.1% year-on-year, according to Xeneta.

“The logistics chain remains under pressure with demand outstripping supply, port congestion, equipment shortages and the ongoing pandemic affecting global trade,” said Patrik Berglund, CEO of Oslo-based Xeneta.