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Red Sea Crisis

Container line reliability improves as Red Sea rerouting becomes the norm

Photo: Hapag-Lloyd Hapag-Lloyd the Antwerpen Express
Carrier schedule reliability improved in February as the situation with rerouting from the Red Sea to avoid Houthi rebel attacks normalised.

Analysts Sea-Intelligence reported an improvement in global schedule reliability for container lines in February 2024 up 1.7 percentage points from January to 53.3%.

“After a tumultuous few weeks in the wake of the Red Sea crisis, some form of stability has ensued, with the round-Africa routings now normalising,” commented Alan Murphy CEO of Sea-Intelligence.

However, while schedule reliability did improve month-on-month, the situation in the Red Sea meant that reliability was 6.9 percentage points lower the same month in 2023.

The most reliable carrier in February 2024 amongst the top 13 lines was Hapag-Lloyd with a schedule reliability of 54.9%. Sea-Intelligence said another seven carriers were above the 50% mark, with the remaining lines all in the 40%-50% range.

Lowest among the top tier carriers was Pacific International Lines (PIL) with a score of 45.3%.

The average global schedule reliability of 53.3% is still well below from 64.4% in September last year, and a peak of 66.8% in May 2023.

Major lines have now fixed rerouting via the Cape of Good for the foreseeable with the adjusted schedules becoming the norm in most cases and there is little sign of resolution to the situation.

Commenting on schedule reliability in a report for the Baltic Exchange Lars Jensen, CEO at Vespucci Maritime, said: “The expectation should be further improvements in the coming months as vessels are now settled into the new round-Africa services where planned transit times are longer, but it should allow for more timely services in accordance with these new schedules.