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.
 
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

CAGTC Members Win Big in TIGER VI

The U.S. Department of Transportation (USDOT) announced Friday that 72 projects will receive a total of $600 million from the sixth round of the Transportation

Scorpio Bulkers Upsizes Public Offering

Scorpio Bulkers Inc. announced today that it has further upsized and priced its previously announced offering of senior unsecured notes due 2019 in a registered public offering.

Mideast Crude Tanker Rates Near 3-month Low

Crude oil tanker earnings on the major Middle East route fell to their lowest in nearly three months as a slowdown in business in recent days battered rate sentiment.

Container Ships

T&T Salvage Refloats Containership

Damn the Torpedoes: T&T Salvage completes another successful OPA 90 response T&T Salvage and their strategic response partner, Cabras Marine, successfully refloated a 17,

First LNG Containership Receives ME-GI Engine

Late last month, NASSCO engineers placed the world’s first dual-fuel slow speed engine into the World’s First Liquefied Natural Gas (LNG) powered containership.

Port of LA Container Volumes Strongest Since 2010

The Port of Los Angeles has released its August 2014 containerized cargo volumes. In August 2014, overall volumes increased 6.7 percent compared to August 2013.

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1672 sec (6 req/sec)