Container shipping reliability dropped to 35.6% in July, down 3.8% on the previous month and almost 40% year on year due to global port congestion,
According to the Global Liner Performance report, the average delay to vessels continues to increase, up by 0.35 days in July to 6.88 days.
No worse, but no better
The July figures were lower than the previous three months but better that February’s extreme lows, reports Lloyds Loading List. While the situation was not getting worse, performance figures were not getting any better, said Alan Murphy, CEO of Sea Intelligence which produced the report.
Maersk Line was the most reliable top-14 carrier at 47.3% reliability. Hamburg Süd was the only other carrier with reliability higher than 40%.
Shipping operators have launched new lines to take advantage of soaring shipping rates, reports the Loadstar. A total of 23 new service were added on transpacific routes in the past year, boosting capacity by 33%.
Data from Shanghai Shipping Exchange found that vessels were diverted from services to India, Pakistan and the Persian Gulf to transpacific routes.
Challenges are driving innovation among freight forwarders, notes Logistics Management with a rise in digital forwarding and traditional forwarders offering integrated third party logistics.
Most freight forwarders are investing in digital technology as part of their strategic plan to create a better customer and carrier experience as well as build customer loyalty.
Both incumbent forwarders and digital forwarding start-ups have added technology and technical expertise to their capabilities in recent years.
Mergers and acquisitions are predicted to be ‘hot’ in the sector, according to the Top 25 Global Freight Forwarders list, compiled by Armstrong & Associates. However, capacity will remain limited and prices accordingly high, it reports.