Shipping companies lose punctuality

The world’s shipping companies have reduced the average punctuality rate on maritime routes due to several factors, mainly due to the Covid-19 pandemic.

Shipping utilization efficiency was generally suppressed, leading to limited capacity.

In 2021, due to the continuous recurrence of the Covid-19 pandemic, shipping port congestion, and poor container turnover, the global trunk route comprehensive punctuality index dropped significantly (down 17.04% in October 2021).

Meanwhile, with the gradual recovery of the global economy, shipping demand has recovered considerably, leading to a supply shortage in the carrier shipping market.

According to data from the Shanghai Shipping Exchange, as of December 31, 2021, the CCFI (China Export Container Freight Index) reached 3,344.24 points, the average CCFI reached 2,615.54 points, a year-on-year increase of 165.69%, all of them reaching a record.

Shipping companies

In particular, China’s port container traffic in 2021 was 282.72 million TEUs, representing a year-on-year growth of 7.0%; and China’s port cargo throughput was 15.545 million tons, representing a year-on-year growth of 6.8 percent.

On the other hand, world cargo demand grew strongly, while air cargo capacity was scarce.

Air cargo demand was strong in 2021, but capacity was limited, according to the International Air Transport Association (IATA).

In 2021, global air cargo demand increased by 6.9% compared to 2019 (of which international demand increased by 7.4%) and 18.7% compared to 2020.

This was the second biggest improvement in year-on-year demand since IATA began monitoring freight performance in 1990, after a 20.6% increase in 2010.

In 2021, global air freight capacity increased by 12.4% year-on-year compared to 2020, but still decreased by 10.9% compared to 2019 (12.8% for international business).

According to logistics company Sinotrans, major hubs have encountered bottlenecks, resulting in limited capacity.

Air cargo capacity was tight and freight rates continued to operate at high levels.

IATA predicted that in 2021, the global volume of air cargo would be 63.10 million tons, an increase of 16.4 percent.

According to statistics from the Civil Aviation Administration of China, in 2021, the global air cargo market saw buoyant demand, recording an industry-wide annual cargo and mail transportation volume of 7.318 million tons, representing a year-over-year increase of 8.2 percent.

International traffic recovered significantly, the global volume of cargo and mail air transport reached 2,667 million tons, which represents a year-on-year increase of 19.6 percent.


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