Container Carriers Set Reliability Record

(Press Release)
Thursday, February 02, 2012
(Source: Drewry)

Container service reliability reached a new high in the final quarter of 2011 with an on-time average of 69% across all the trades covered by Drewry’s Schedule Reliability Insight report, just published. The latest result was up by 6 percentage points over the previous quarter, meaning that schedule reliability has improved for three consecutive quarters, a feat only equalled once before between 4Q08 and 2Q09. Despite the positive results, the report points out that when the previous record of 68% was set in the second quarter of 2009 there followed a sharp deterioration in reliability. “Shippers will be hoping that history does not repeat itself,” said Simon Heaney, researcher manager for Schedule Reliability Insight.

“The two best on-time results have been set during periods of low freight rates, which reinforces the notion that reliability and price are not directly related to one other. However, there is evidence that continued periods of low,  oss-inducing rates do eventually wear away at carriers’ motivation to maintain reliability. Their commitment to reliability will be tested this year as we do not expect to see huge rate hikes.” 
Maersk Line retained its position as the most reliable of the “Top 20” carriers across all the trades covered by Drewry, followed by CKHY Alliance members Hanjin Shipping and Cosco Container Lines in second and third place respectively.
For the first time, the report also measured reliability by vessel size and operator. The standard reliability rankings include all services that a carrier offers space on regardless of whether they participate as a vessel operator or via a slot charter agreement. The vessel operator-only rankings had Hanjin and Maersk on top again with on-time percentages of 91% and 90% respectively.
The report also includes carrier rankings across the three main East/West trades.
 

Finance

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Yangzijiang Shipbuilding to Slash 2,000 More Jobs

Chinese shipbuilder Yangzijiang Shipbuilding Holdings Ltd said it plans to cut 2,000 additional jobs, just under 10 percent of its current workforce, stepping up

Australia Warns DCNS after Security Breach

Australian defence officials warned French naval contractor DCNS to beef up security in Australia, where it is preparing to build a A$50 billion ($38.13 billion) fleet of submarines,

Container Ships

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Hapag-Lloyd: UASC Merger Benefits to show in 2017

German container shipping line Hapag-Lloyd expects to reap a third of targeted annual synergies of $400 million from the planned merger with Arab rival UASC already next year,

Asia’s Biggest Container Shipper Posts Loss

Asia’s largest container shipping company China Cosco Holdings Co  posted a net loss of Yuan7.2bn ($1.1bn) for the first six months of 2016, reversing the Yuan2bn

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0873 sec (11 req/sec)