Shipping companies' global flight reliability dropped in September
In a worrying trend for the shipping industry, the reliability of cargo shipping by global shipping lines fell by 1.2% in September, down to 51.4% month-on-month. This decline underscores the ongoing challenges facing cargo forwarder, which is struggling to maintain consistent service amid various disruptions.
From an annual rate perspective, the cargo shipping reliability of the top 13 container lines shows no sign of improving. It is worth noting that the two major shipping companies, MSC (Mediterranean Shipping Company) and All Seas Shipping, experienced the most significant decline in reliability, falling by 21.5 percentage points each. This sharp decline raises questions about the operational strategies and logistics frameworks adopted by these companies as they grapple with growing demand and the complexity of their supply chains.
This decline in reliability is particularly troubling for businesses that rely on timely shipments. Delays can lead to increased costs, supply chain disruptions, and ultimately customer dissatisfaction. As the global economy continues to recover from the impact of the pandemic, the shipping industry must address these reliability issues to regain the trust of its customers.
In September, Danish shipping giant Maersk remained the most reliable of the top 13 airlines, with a flight reliability of 55.5%. Only Maersk and French shipping company CMA CGM had a schedule reliability of more than 50 per cent in September, with the latter Posting a schedule reliability of 50.9 per cent.
Industry experts believe that factors contributing to the decline in cargo volumes include port congestion, labor shortages and unpredictable weather patterns, all of which add to the difficulties faced by shipping companies. To address these challenges, businesses may need to invest in more robust logistics solutions, improve communication with stakeholders, and adopt innovative technologies to streamline operations.
As we grow, shipping companies must prioritize reliability and efficiency to deal with the complexity of the global marketplace. Recent statistics have sounded the alarm and urged the industry to take proactive measures to improve service levels and meet the growing demands of international trade.