has analysed data from the November 2021 issue of the Global Liner Performance
report to calculate how much vessel capacity was being effectively removed from
the market due to vessels being tied up on seemingly interminable queues around
Overall, 11.5% of the
global capacity has been taken out of the market due to vessel delays in
November 2021, a slight improvement from 12.3% in October 2021, according to
Danish maritime data analysts.
There is no sign of imminent improvement
seems that there is no sign of imminent improvement, while the normal state of
affairs in the market is that 2% of global capacity is 'trapped' in delays
somewhere in the world," noted Sea-Intelligence.
2021 was a year
where demand grew 7% year-on-year, partly due to the downfall in early 2020,
and at the same time capacity effectively was reduced by 11%.
Sea-Intelligence used the bi-weekly customer advisories from the major South
Korean container carrier, HMM, to calculate a terminal congestion index.
The above figures
show the results of Sea-Intelligence's terminal congestion index for North
America and Europe.
For North America, the slight improvement after Golden
Week was fully reversed by the end of 2021 and a new record was set on 30
December, albeit with a slight improvement again on 6 January, driven by
improvements in Savannah and Charleston.
For Europe, the Danish analysts see a situation that
has been steadily getting worse since the start of October, with no signs of
any improvement, or even levelling out.
Available data show that congestion and bottleneck problems are
worsening getting into 2022
implies that we might well expect to see a continued upwards push on freight
rates on this trade, as the congestion is likely to have a negative impact on
reliability, and hence in turn on available capacity," commented Alan
Murphy, CEO of Sea-Intelligence, who concluded that all the available data show
that congestion and bottleneck problems are worsening getting into 2022, and
there is no indication of improvements.