Sea-Intelligence has released issue 156 of the Global Liner Performance (GLP) report, offering a comprehensive overview of schedule reliability data up to July 2024. The report covers an impressive 34 trade lanes and over 60 carriers, delivering critical insights into the state of global shipping. This analysis focuses on the global highlights, revealing the challenges and opportunities that lie ahead for Beneficial Cargo Owners (BCOs) and Logistics Service Providers (LSPs).
A Year of Fluctuating Reliability
In July 2024, global schedule reliability saw a decline of 2.1 percentage points month-over-month (M/M), dropping to 52.1%. This figure mirrors the situation at the start of the year, underscoring the ongoing trend of reliability oscillating between 50% and 55%. The year-over-year (Y/Y) comparison paints a more concerning picture, with schedule reliability plummeting by 12.0 percentage points.Despite the decline in reliability, there was a slight improvement in the average delay for late vessel arrivals, which decreased by 0.02 days M/M to 5.24 days. However, this delay is still significantly higher than pre-pandemic levels, with July 2024’s figure standing 0.63 days higher than the same period in the previous year.
Maersk Leads, Wan Hai Lags
Among the top 13 carriers, Maersk emerged as the most reliable in July 2024, boasting a schedule reliability of 54.6%. Only three other carriers managed to surpass the 50% mark, while the majority fell within the 40%-50% range. Wan Hai, in particular, struggled, with its reliability dropping to a low of 41.3%.Interestingly, only ZIM and MSC managed to improve their schedule reliability M/M in July 2024. Conversely, Wan Hai experienced the most significant decline, with a sharp 11.6 percentage point drop. The Y/Y analysis revealed a broader industry challenge, with no carriers achieving an increase in schedule reliability. Yang Ming recorded the smallest Y/Y decline of -5.2 percentage points, while Wan Hai again led the downturn with a staggering -27.4 percentage point drop.
The Need for Real-Time Supply Chain Visibility
These fluctuations in schedule reliability highlight the critical need for BCOs and LSPs to implement robust supply chain visibility and climate impact software. Real-time data insights are no longer a luxury—they are essential for making business-critical decisions that can mitigate the adverse effects of schedule disruptions. With the right tools, companies can not only anticipate delays but also adapt their logistics strategies to ensure smoother operations, even in the face of fluctuating reliability.As the global shipping industry navigates these turbulent waters, the adoption of cutting-edge technology will be key to maintaining resilience and flexibility. The insights provided by supply chain visibility software can empower businesses to counteract the impacts on their supply chains, ensuring they remain competitive in an increasingly unpredictable market.