Sea-Intelligence: Schedule Reliability Improves M/M In Feb 2024

92

  • After a tumultuous few weeks in the wake of the Red Sea crisis, some form of stability has ensued, with the round-Africa routings now normalising.
  • The average delay for LATE vessel arrivals also improved to 5.46 days, roughly the same level as pre-Crisis.

Sea-Intelligence has published issue 151 of the Global Liner Performance (GLP) report, with schedule reliability figures up to and including February 2024. As the report itself is quite comprehensive and covers schedule reliability across 34 different trade lanes and 60+ carriers, this press release will only cover the global highlights from the full report.

Global schedule reliability

After a tumultuous few weeks in the wake of the Red Sea crisis, some form of stability has ensued, with the round-Africa routings now normalising. This was also reflected in the February 2024 global schedule reliability score, which improved by 1.7 percentage points M/M to 53.3%. On a Y/Y level however, schedule reliability was -6.9 percentage points lower. The average delay for LATE vessel arrivals also improved to 5.46 days, roughly the same level as pre-Crisis, which means that the increase due to the crisis has reverted.

Hapag-Lloyd was the most reliable top-13 carrier in February 2024 with schedule reliability of 54.9%. Another 7 carriers were above the 50% mark, with the remaining carriers all in the 40%-50% range. PIL was at the bottom with a score of 45.3%. On a M/M level, 7 carriers recorded an improvement in schedule reliability, with the highest improvement of 9.7 percentage points recorded by Hapag-Lloyd. Evergreen recorded the largest M/M decline of -5.0 percentage points. On a Y/Y level, none of the 13 carriers recorded an increase in schedule reliability.

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe

Source: Sea Intelligence