GLOBAL schedule reliability improved by 0.7 percentage points month on month (MoM) to 52.8 per cent in August, according to findings in Sea-Intelligence's latest Global Liner Performance (GLP) report.

Carrier schedule reliability has stabilized in 2024 after the shocks coming from the Red Sea diversions and issues at the Panama Canal. By pressing extra vessels into operation and management carriers were able to level off after significant drops from 2023.

"Schedule reliability in 2024 has stabilized within the 50 to 55 percent range," highlights Alan Murphy, CEO of Sea-Intelligence. "While disappointingly low, the minimal volatility this year does give shippers a relatively good idea of what to expect month to month."

In August, congestion backlogs also remained stable. The average delay for late vessels according to Sea-Intelligence remained at just over five and a quarter-days in August, largely unchanged over four months. The industry, however recovered from delays well over six days in January 2024. However, it is still far below the 4.7 days reported in August 2023.

The current average delay for late vessel arrivals Mr Murphy notes was "only surpassed by the pandemic highs of 2021-2022".

Maersk was the most reliable top 13 carrier in August 2024 with schedule reliability of 54.7 per cent, followed by Hapag-Lloyd with 54.3 per cent. The two carriers, however, continue to reiterate their goal for the new network to be established with the Gemini Cooperation is for schedule reliability above 90 per cent.

During August, Maersk's schedule reliability was largely unchanged while Hapag showed a better than 5 percentage point improvement.

Many of the top carriers (COSCO, HMM, ONE, OOCL, Yang Ming) all had strong month-over-month improvements. However, four carriers including MSC Mediterranean Shipping Company showed declines in August with PIL, Wan Hai, and Zim each showing the largest declines month over month.