Liner shipping is becoming less reliable as operators ignore service standards in the rush to cut costs, according to Drewry’s Carrier Performance Insight report. The bad news for shippers is that the situation is only going to get worse!
Reliability worsened in every quarter of 2013, with the fourth-quarter decline taking the on-time average below 64%, the lowest it has been for two years (61% in Q3-2011). This compares with Q4-2012 when the ‘all trades’ average reached a peak of 75.2%.
The weaker performance coincided with a raft of skipped voyages; with more planned for the first couple of months of 2014, the short-term outlook for reliability is not great, warns Drewry.