Global liner average schedule reliability hit an all-time low point in August, both in terms of the actual performance levels, as well as in terms of the speed with which performance has declined, according to new analysis from Copenhagen-based Sea-Intelligence, which has been tracking carrier reliability levels since 2011.
Reliability in August across all tradelanes stood at 63.7% meaning less than two out of three ships got to their destination on time, despite the fact that clients were often paying sky-high, record rates for their late deliveries.
Sea-Intelligence has detected a gradual decline in global reliability since 2015, but this recent measurement is below that overall long-term trend.
Commenting on the data, Danish container shipping analyst Lars Jensen wrote on LinkedIn: “Irrespective of the reasons this is likely to cause additional friction between carriers and shippers, as shippers will have experienced a sharp decline in service quality at a time where freight rates are setting new record highs.”
Story first appeared on Splash247 by Sam Chambers