Red Sea port calls plummet by 85% in 2024

Sea-Intelligence reports that post-pandemic backhaul vessel utilisation, previously around 50%, has fallen below 40% in August 2024.

Even though short-lived, the ILA port strike is expected to result in a capacity decline of 10-17% for Asia exporters.

Sea-Intelligence: The ILA holds the upper hand for now, but if the strike drags on, public opinion may begin to shift, potentially weakening their position.

In August 2024, global schedule reliability rose to 52.8%, with minimal volatility, though y-o-y performance dropped by 10.2% and delays increased to 5.28 days.

Sea-Intelligence found MSC’s network design nearly halves reportable sailing distances, giving it a cost advantage in ETS expenses over Ocean Alliance’s modest 7% reduction.

Maritime experts are set to resume a delicate operation to salvage the Greek oil tanker Sounion, which remains on fire after being attacked by the Houthis.