Continued Transpacific vessel pressure

Panama Canal posts lower figures in total transits for the FY-2024 amid challenges from drought.

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.

Panama needs more container terminal capacity, says the General Director at the Panama Maritime Authority.

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.