On a global level, schedule reliability increased to 58.3%, which was a 3.4 percentage point (PP) increase Q/Q, and a 24.9 PP improvement Y/Y. In similar vein, the average delay for ALL vessel arrivals improved to 1.70 days, dropping by -2.88 days Y/Y, while the average delay for LATE vessel arrivals improved to 5.23 days, a notable -2.43 day improvement Y/Y, according to Sea-Intelligence.
As for the top-14 shipping lines (shown in Figure 1), all of them recorded double-digit Y/Y improvements, with 4 of them recording improvements of over 30 PP. Maersk was the most reliable carrier in 2023-Q1 with schedule reliability of 63.6%, with MSC the only other carrier with schedule reliability higher than 60%. 11 of the 12 remaining shipping lines were within 50%-60%, with Yang Ming the only exception with schedule reliability of 49.9%.
The three carrier alliances also recorded sharp Y/Y improvements in schedule reliability, although only 2M and Ocean Alliance outperformed the industry on the East/West alliance trades, but that too by under 2 PP. THE Alliance on the other hand underperformed the industry by a significant -12.1 PP.
All of the six major East/West trades recorded double-digit Y/Y improvements in schedule reliability, although all of them underperformed compared to the global industry average.
