Improvement In Container Vessel Delays Yet Challenges Persist

238

Vessel delays and terminal congestion are easing, though challenges persist. According to Sea Intelligence’s analysis in issue 566 of the Sunday Spotlight, while 10.5% of the global fleet remains unavailable due to supply chain delays, there’s been improvement from 13.8% in January, with 3.3% of the fleet returning to operation from January to April.

Navigating Crisis

The figure illustrates a strong correlation between CCFI freight rates and capacity absorption rate, emphasizing the critical role of capacity loss in the ongoing crisis.

Capacity absorption has served as a leading indicator for rate developments, coinciding with congestion issues that intensified in late 2020.

Click here to view the chart

Terminal congestion, assessed through HMM’s bi-weekly advisories, shows a continuous increase in the index for North America, reaching a peak of over 80% in January 2022 and maintaining a persistently high level.

Europe’s Congestion

In Europe, there has been significant improvement in the overall congestion index over the past month. However, it is crucial to note that despite the visible decline, congestion levels remain notably high compared to pre-pandemic normality. 

On a port level, notable improvements are observed in Spain, Italy, and Greece. In contrast, Rotterdam and Hamburg show less improvement, indicating persistent challenges in these key ports despite the overall positive trend.

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe!

Source: Transport & Logistics