Global schedule reliability up by a huge 19.5%, marking a significant leap from 42.6% to 62.1%.

The onset of the new year brought with it a wave of volatility, particularly in Asia to Europe trades, which bore the brunt of the Red Sea crisis. However, by the end of January, signs of stabilization began to surface. Spot rates in this route began to level out and even decline slightly, signaling a potential easing of the turmoil.

Lets analyze the state of current Global liner schedule reliability through the latest insights from Sea-Intelligence's Global Liner Performance (GLP) reports and seaexplorer by Kuehne+Nagel, shedding light on the state of schedule reliability and avenues for improvement.

1. Setting Sail on a Positive Note:

In 2023, global schedule reliability saw a commendable surge of 19.5%, marking a significant leap from 42.6% to 62.1%.

Despite this progress, the figures still fall shy of the optimal 70%-80% range observed in previous years.

The voyage through February reveals a continued weakening in on-time performance, settling at 45.8%, marking the fourth consecutive month of decline.

Despite this downtrend, the pace of decline in February was less pronounced than in preceding months, offering a glimmer of stabilization amidst turbulent waters.

On a year-on-year basis, February's performance dipped by a significant 18 percentage points, underscoring the magnitude of the challenge at hand.