Coming back from the depths of the shipping surge experienced in 2021 and early 2022, the container shipping industry is recovering its schedule reliability to levels last seen at the onset of the pandemic.
New data from Sea Intelligence shows the highest level of schedule reliability in 30 months reaching levels not seen since August 2020 and approaching pre-pandemic norms.
“Schedule reliability was a staggering 26 percentage points higher,” year-over-year highlights Alan Murphy, CEO of Sea-Intelligence. The analysis firm’s data shows that the industry bottomed out a year ago falling to a level where only one-in-three ships were on schedule. February 2022 showed just 34.2 percent global schedule reliability, continuing a two-year trend that began in January 2021 when reliability fell for the first time into the 30 to 40 percent range.
“Global schedule reliability increased sharply by 7.7 percentage points month over month in February 2023, reaching 60.2 percent,” says Murphy. Levels had begun nearly consistent monthly increases in May 2022 but February was the first time the level achieved the 60 percent level.