Maersk ranked first in global on-time performance in November 2024
The 160th edition of Sea-Intelligence's Global Liner Performance Report reveals on-time performance data for the global consolidated shipping industry in November 2024.
The report shows that the November 2024 punctuality rate showed a significant recovery from the previous month, and the overall global punctuality rate reached 54.8%, which is the highest level since 2024. This data not only reflects the consolidation industry's gradual recovery of operational reliability and stability after several years of epidemic volatility and supply chain challenges, but also brings positive signals for the future market prospects.
Specifically, in November 2024, the on-time rate of the global consolidation industry increased by 4.1 percentage points from the previous month to 54.8%. Despite this significant increase, overall, the on-time rate of the global consolidation industry in 2024 will remain mainly in the range of 50% to 55%. This trend shows that the overall recovery pace of the container transportation industry is accelerating, but it still faces certain uncertainties and challenges.
In addition, shipping companies have made some progress in reducing delays. In November 2024, the average delay time in the consolidation industry dropped to 5.41 days, down 0.43 days from the previous month. Although this figure is still higher than the historically ideal level, it has significantly improved compared to the delay data at the peak of the epidemic in 2021, showing the gradual recovery of the global consolidation market in terms of timeliness.
In November 2024, Maersk continued to maintain the highest on-time rate in the global containerization industry, with an on-time rate of 61.9%, leading the world's top 13 shipping companies. This data once again proves Maersk's leadership position and strong operational capabilities in the global consolidation market.
It is worth noting that PIL also performed well in November, increasing its punctuality rate by 14.6 percentage points, making it the largest increase among the top 13 shipping companies. The strong recovery of PIL shows the remarkable achievements made by mid-sized shipping companies in the face of industry challenges by optimizing operations and improving service quality.
Wan Hai, however, had a more sluggish punctuality rate, ranking at the bottom with only 47.3%. Nevertheless, the gap in punctuality rates between the top 13 global shipping companies has narrowed to less than 15 percentage points in November 2024, indicating that competition in the container market is intensifying and major shipping companies are accelerating their punctuality rates to meet the high requirements of customers for shipping timeliness.
Although the on-time rate of the global consolidation industry improved in November, the overall performance is still not up to the ideal level. The data shows that except for Yang Ming, the other six major shipping companies have seen double-digit declines in annual (Y/Y) data, which reflects that some shipping companies still face problems such as operational inefficiency and port congestion.
As the global economy gradually recovers, the increased demand for international trade has put more pressure on shipping companies. At the same time, external factors such as port congestion, oil price fluctuations and climate change are still having a significant impact on punctuality. Therefore, despite the overall trend of recovery in the industry, shipping companies still need to cope with an increasingly complex external environment and market demand.
Improve the on-time rate, the key to future development
In the future, shipping companies not only need to improve their own punctuality rate, but also need to improve overall operational efficiency through innovation and digitalization. For example, optimizing shipping networks through intelligent scheduling systems, big data analytics, and artificial intelligence technologies will be key tools to improve punctuality and meet customer needs.
In addition, with the increasing requirements for environmental protection in the shipping industry, green shipping and sustainable development will also become an important direction of future development. Shipping companies not only need to improve shipping timeliness and punctuality, but also need to make more efforts to reduce carbon emissions and reduce environmental impact to achieve sustainable long-term development.
Conclusion
The improvement in the on-time rate in November 2024 has brought hope to the global consolidation industry, showing that the industry is gradually returning to health and stability after experiencing multiple challenges such as the epidemic and supply chain bottlenecks. Although challenges remain, the future of the global container market is worth looking forward to as major shipping companies continue to optimize their operations and improve their service quality. The competition among shipping companies will become increasingly fierce, and only through continuous innovation and operation optimization can they stand out in the future market and win more customers' trust and support.
The report shows that the November 2024 punctuality rate showed a significant recovery from the previous month, and the overall global punctuality rate reached 54.8%, which is the highest level since 2024. This data not only reflects the consolidation industry's gradual recovery of operational reliability and stability after several years of epidemic volatility and supply chain challenges, but also brings positive signals for the future market prospects.
Specifically, in November 2024, the on-time rate of the global consolidation industry increased by 4.1 percentage points from the previous month to 54.8%. Despite this significant increase, overall, the on-time rate of the global consolidation industry in 2024 will remain mainly in the range of 50% to 55%. This trend shows that the overall recovery pace of the container transportation industry is accelerating, but it still faces certain uncertainties and challenges.
In addition, shipping companies have made some progress in reducing delays. In November 2024, the average delay time in the consolidation industry dropped to 5.41 days, down 0.43 days from the previous month. Although this figure is still higher than the historically ideal level, it has significantly improved compared to the delay data at the peak of the epidemic in 2021, showing the gradual recovery of the global consolidation market in terms of timeliness.
In November 2024, Maersk continued to maintain the highest on-time rate in the global containerization industry, with an on-time rate of 61.9%, leading the world's top 13 shipping companies. This data once again proves Maersk's leadership position and strong operational capabilities in the global consolidation market.
It is worth noting that PIL also performed well in November, increasing its punctuality rate by 14.6 percentage points, making it the largest increase among the top 13 shipping companies. The strong recovery of PIL shows the remarkable achievements made by mid-sized shipping companies in the face of industry challenges by optimizing operations and improving service quality.
Wan Hai, however, had a more sluggish punctuality rate, ranking at the bottom with only 47.3%. Nevertheless, the gap in punctuality rates between the top 13 global shipping companies has narrowed to less than 15 percentage points in November 2024, indicating that competition in the container market is intensifying and major shipping companies are accelerating their punctuality rates to meet the high requirements of customers for shipping timeliness.
Although the on-time rate of the global consolidation industry improved in November, the overall performance is still not up to the ideal level. The data shows that except for Yang Ming, the other six major shipping companies have seen double-digit declines in annual (Y/Y) data, which reflects that some shipping companies still face problems such as operational inefficiency and port congestion.
As the global economy gradually recovers, the increased demand for international trade has put more pressure on shipping companies. At the same time, external factors such as port congestion, oil price fluctuations and climate change are still having a significant impact on punctuality. Therefore, despite the overall trend of recovery in the industry, shipping companies still need to cope with an increasingly complex external environment and market demand.
Improve the on-time rate, the key to future development
In the future, shipping companies not only need to improve their own punctuality rate, but also need to improve overall operational efficiency through innovation and digitalization. For example, optimizing shipping networks through intelligent scheduling systems, big data analytics, and artificial intelligence technologies will be key tools to improve punctuality and meet customer needs.
In addition, with the increasing requirements for environmental protection in the shipping industry, green shipping and sustainable development will also become an important direction of future development. Shipping companies not only need to improve shipping timeliness and punctuality, but also need to make more efforts to reduce carbon emissions and reduce environmental impact to achieve sustainable long-term development.
Conclusion
The improvement in the on-time rate in November 2024 has brought hope to the global consolidation industry, showing that the industry is gradually returning to health and stability after experiencing multiple challenges such as the epidemic and supply chain bottlenecks. Although challenges remain, the future of the global container market is worth looking forward to as major shipping companies continue to optimize their operations and improve their service quality. The competition among shipping companies will become increasingly fierce, and only through continuous innovation and operation optimization can they stand out in the future market and win more customers' trust and support.
