Record-low Global Schedule Reliability of 50.1% in November 2020
November 2020 schedule reliability drops to record-low 50.1%
Sea-Intelligence has published issue 112 of the Global Liner Performance (GLP) report, with schedule reliability figures up to and including November 2020. As the report itself is quite comprehensive and covers schedule reliability scores across 34 different trades lanes, this press release will only cover the global highlights from the 116-page report.
Global schedule reliability dropped to 50.1% in November 2020, which means that for the fourth consecutive month, global schedule reliability has been the lowest across all months since Sea-Intelligence introduced the benchmark in 2011. Compared to November 2019, schedule reliability is -29.8 percentage points lower, and is the fourth 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 three months, reaching 5.10 days in November. The 2020 figure for the average delay for LATE vessel arrivals has been the highest overall in each month since April 2020.
In November 2020, Hamburg Süd was the most reliable carrier with 61.5% schedule reliability. However, we can see in figure 3 how significant the deterioration is compared to November 2019. Only COSCO and OOCL recorded a M/M improvement in schedule reliability, whereas none of the carriers recorded a Y/Y improvement in schedule reliability, with Hamburg Süd recording the smallest decline of a staggering -27.0 percentage points.
This slump in schedule reliability coincided with the carriers’ introduction of capacity on the major trade lanes above and beyond what we have seen before. With news of widespread port congestion, and with carriers not letting off capacity-wise (especially on the major trades) until at least Chinese New Year, shippers might not see improving schedule reliability until the Q2 in 2021.
--- 000 --- END OF PRESS RELEASE --- 000 ---
All quotes can be attributed to: Alan Murphy, CEO, Sea-Intelligence.
|Download press release in PDF||Download press release in Word||Download Excel file with the above chart(s)|