January 2021 schedule reliability of 34.9% extends lowest record

Global schedule reliability dropped to 34.9% in January 2021, which means that for the sixth consecutive month, global schedule reliability has been the lowest across all months since Sea-Intelligence introduced the benchmark in 2011. Compared to January 2020, schedule reliability is -33.5 percentage points lower, and it is the sixth 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 five months, reaching 6.42 days in January.

In January 2021, Hamburg Süd was the most reliable carrier with 46.5% schedule reliability. However, we can see in figure 3 how significant the deterioration is compared to January 2020. None of the carriers recorded a M/M or a Y/Y improvement in schedule reliability. COSCO recorded the largest M/M decline of -13.9 PP (one of the 9 carriers with a double-digit decline) while HMM recorded the largest Y/Y decline of -53.3 PP (with all carriers recording double-digit declines). With continued widespread port congestion, and with carriers still not letting off capacity-wise (especially on the major trades) not even for Chinese New Year, shippers might not see improving schedule reliability anytime soon.

Source: Sea Intelligence

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