Sea Intelligence

Sea-Intelligence reports sharp drop in blank sailings

Spot rates have experienced a continuous decline over the past several months. In response, shipping lines face two possible strategies.

One option is to increase blank sailings, reducing supply and halting the decline in spot rates. The other would be that despite the decline, spot rates are still much higher than before the Red Sea crisis and the pre-pandemic levels, which would potentially incentivise shipping lines to book as much cargo as possible at current rates, to capitalise on this.

“The...

https://container-news.com/sea-intelligence-reports-sharp-drop-in-blank-sailings/

Hapag-Lloyd, the most reliable ocean carrier in February

Following a period of uncertainty following the Red Sea crisis, a sense of stability has emerged in the ocean carrier schedule reliability, particularly with the normalization of round-Africa routes, according to a recent report by Sea-Intelligence.

This trend is reflected in the February 2024 global schedule reliability score, which saw a month-on-month improvement of 1.7% points reaching 53.3%. However, compared to the previous year, schedule reliability experienced a decrease of 6.9% points.

“T...

https://container-news.com/hapag-lloyd-the-most-reliable-ocean-carrier-in-february/

Container lines record combined EBIT loss of US$1.44 billion in 2023 Q4

Following Sea-Intelligence’s previous announcement on 21 March, which provided insights into the fiscal year 2023 results, the data analysis firm now delves into the operating profit specifically for the fourth quarter of the last year.

During the fourth quarter of 2023, the shipping lines collectively reported a combined EBIT loss of US$1.44 billion. Among the major players, Maersk recorded a loss of US$920 million, followed by Hapag-Lloyd (US$252 million), ONE (US$248 million), Yang Ming (US$...

https://container-news.com/container-lines-record-combined-ebit-loss-of-us1-44-billion-in-2023-q4/

Sea-Intelligence sees 2023 profitability close to pre-pandemic levels

In 2023, all ocean carriers saw sharp year-on-year declines in their revenues, ranging between 46.6% and 62.6%, according to the latest Sea-Intelligence report.

The Danish maritime data analysis firm noted that the annualised revenue growth rate in 2023 is in line with 2018-2019, which suggests that the sharp Y/Y revenue decline in 2023 is an artefact of the abnormal revenue growth of 2021-2022, rather than a fundamental revenue loss in 2023.

Sea-Intelligence examined the cases of ZIM, Yang Ming...

https://container-news.com/sea-intelligence-sees-2023-profitability-close-to-pre-pandemic-levels/

Schedule reliability insights: CMA CGM climbs to the top

Sea-Intelligence has released the 150th edition of the Global Liner Performance (GLP) report, featuring schedule reliability data up to and including January 2024.

“Source: Sea-Intelligence.com, GLP Report, issue 150”
“Source: Sea-Intelligence.com, GLP Report, issue 150”

Amidst the ongoing Red Sea crisis, global schedule reliability witnessed a decline, with a month-on-month drop of -5.1 percentage points in January 2024—mirroring the same decrease observed in December 2023—to reach 51.6%. This...

https://container-news.com/schedule-reliability-insights-cma-cgm-climbs-to-the-top/

Empty container movements surge by 20%

Utilizing data from Container Trade Statistics (CTS) on the movement of full containers between regions, Sea-Intelligence estimated the corresponding trends in empty container movements.

Empty container volumes, when compared to 2019 levels to mitigate the effects of pandemic-related volatility, have consistently stayed around a 20% increase in the past few months.

“Source: Sea-Intelligence.com, Sunday Spotlight, issue 653”

While assessing volume simply in TEU terms provides a reasonable...

https://container-news.com/empty-container-movements-surge-by-20/

Scrubber savings reach US$13 billion, reports Sea-Intelligence

According to Sea Intelligence, the IMO2020 regulations require the use of fuel oils containing less than 0.5% sulphur, such as Very Low Sulphur Fuel Oil (VLSFO), or alternative compliance methods like exhaust gas cleaning systems, known as scrubbers.

Scrubbers enable shipping lines to utilize higher-sulphur fuel oils (IFO380), which are cheaper. With a growing number of scrubber installations, there’s a rising proportion of vessels capable of leveraging cost savings by opting for cheaper regular...

https://container-news.com/scrubber-savings-reach-us13-billion-reports-sea-intelligence/

Sea-Intelligence forecasts 16% increase in TEU*Miles due to Red Sea crisis

After reconfiguring liner networks to incorporate the round-of-Africa routing, Sea-Intelligence’s standard model for estimating demand in TEU*Miles was used to assess the potential impact in 2024.

In 2023, global TEU*Miles amounted to 860 billion. Transitioning to a scenario where the same volume of cargo is transported worldwide in 2024 but with a diversion around Cape of Good Hope it would lead to a projected demand of 994 billion TEU Miles. This represents a 16% increase.

“Source:...

https://container-news.com/sea-intelligence-forecasts-16-increase-in-teumiles-due-to-red-sea-crisis/

Assessing round-of-Africa routing disruptions on deployed capacity

The significant disruptions in services due to the round-of-Africa routing naturally raise questions about the impact on deployed capacity.

Here comes Sea-Intelligence’s Trade Capacity Outlook database, which shows the differences in offered capacity between the immediate pre-crisis and the present situation.

The following figure illustrates, for each of the four major East/West trades out of Asia, the cumulative change in offered capacity over the fill period from mid-December to the present...

https://container-news.com/assessing-round-of-africa-routing-disruptions-on-deployed-capacity/

Maersk and 2M stand out in 2023 schedule reliability rankings

According to Sea-Intelligence, the annual global schedule reliability experienced a notable increase of 19.5 percentage points (PP), rising from 42.6% to 62.1% by the end of 2023. Despite this substantial improvement, it only managed to reach the level observed in 2020 and remains below the 70%-80% range seen in the years 2012-2019.

A concerning trend is the month-on-month (M/M) decline in schedule reliability throughout the fourth quarter of 2023, likely to persist into January 2024 due to the...

https://container-news.com/maersk-and-2m-stand-out-in-2023-schedule-reliability-rankings/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.