Global schedule reliability increased until 2023. However, it has just reached the 2020 level

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Globally, the reliability of schedules for 2016 increased by 19.5 percent (PP) between 42.6 percent to 62.1% from 2023. However, despite the dramatic rise, it was only able to reach the 2020 level, but still lower than the 70-80 percent of 2012-2019. The issue is the fact that reliability on schedules decreased M/M throughout quarter, and we’re most likely to witness the same trend in the month of January 2024 because of the Red Sea Crisis.

It’s likely to be temporary, however when the extra transportation time is included in the schedules for carriers which could lead to improvements in the reliability of schedules. The crisis also was too late to make significant effect on the delays, which increased by 6.38 up to 4.83 days between 2023 and FY2023.

For the world’s airlines, Maersk was the most trustworthy in 2023-FY. It had time reliability of 67.7 percent. It was then MSC (65.9 percent), CMA CGM (62.8 percent), Evergreen (61.9%) as well as Wan Hai (61.3%) as the only carrier with more than 60 percent. All other carriers showed between 50-60 percent schedule stability during 2023-FY. Yang Ming at the bottom with 50.7 percent. The 13 carriers across the globe recorded an improvement of double-digits in Y/Y, including Wan Hai recording the largest increase in the form of 27.4 pp.

The alliances were ranked by their reliability. 2M proved to be the strongest, with 57.8 percentage which was closely followed by Ocean Alliance (55.3%) and THE Alliance (43.1%). Although all alliances recorded improvement in Y/Y by double digits however, only 2M performed higher than the industry standard in the major East/West trades. Six trade lanes have seen Y/Y improvement in the reliability of their schedules in 2023 and FY2023 but only one trade lane, the Asia-Mediterranean, overcame the industry average on an individual trade lane.

For more information: sea-intelligence.com

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Source: The Plantations International Agroforestry Group of Companies