Xeneta names Yang Ming container industry's 'emission hero' for Q4 2022
Analysis of Xeneta’s Carbon Emissions Index (CEI) has revealed that Yang Ming is the container industry’s ‘emission hero’ for all relevant CEI-covered trades in Q4 2022. The Taiwanese company was the industry’s only major player to score below the CEI performance baseline of 100 (set in Q1 2018) across all CEI routes.
According to the CEI, a unique solution from Xeneta and Marine Benchmark, Yang Ming found the industry’s best balance between sailing speed, fill factor and vessel size. However, seen as a whole, the segment posted mixed results, with some gains offset by poor performances, as the weak market impacted on filling factors, which in turn decreased overall efficiency.
The CEI was launched last year to provide global shippers with the data they need to make informed “green shipping” decisions for their cargoes. Built on the foundation of real-time AIS data and individual vessel specifications, the index covers 13 main routes for liners, tracking movements and calculating emission footprints. A baseline of 100 is used to score carriers in relation to the trade lane average at the start of 2018.
The CEI shows that there was a drop in speed on most trades, in line with the deteriorating market conditions. The best performers reduced their speed enough to make up for lower filling factors, while those that didn’t decrease speed enough fared worst.
The trade that made the greatest green strides forward (against the baseline) is the Far East to US East Coast, scoring a CEI of 84.3 in Q4 2022. This has been achieved with an 8.5% increase in the average vessel size, an 8.9% decrease in average speed (down 1.5 knots) and a 0.4 percentage point increase in filling factor. Although this latter figure is small, it shows carriers have been able to fill the bigger vessels.
Xeneta is an ocean and air freight rate benchmarking and market intelligence platform transforming the shipping and logistics industry.
