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Containerships moving super slow due to plunging sailing rate
Posted on June 2, 2023 |
During the pandemic, liner operators rose the average sailing rate by 4% due to high demand and extensive port congestion.
At present, the situation is very different as in Q1 2023, the average sailing rate fell annually by 4% to 13.8 knots and it could drop by 10% before 2025.
The average speed of the global liner fleet saw an uptick, in line with falling bunker prices.
In the last 2 years, the entire world box fleet's average speeds fell by one knot, a decline of 6% from the 16.5-knot global average.
Maersk and MSC would be placing 9 extra vessels into the Asia-Europe trade in 2023, which will absorb all the new capacity as these services will move up to 3 days slower.