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April 2024 volumes decreased by 4.5% compared to March 2024, but are a 6.3% increase year on year from April 2023. Strong export performances noted in Far East and Australasia & Oceania.


The sharp rise in cargo volumes in the first half of 2024 has propelled port congestion to a new 18 month year high. Over 2.4m teu of vessel capacity waiting at anchorages as at 16 June, of which 60% are in Asia.


Global schedule reliability declined by -2.5 percentage points M/M in April 2024. This figure is now only 0.6 percentage points higher than the lowest YTD point of January 2024. On a Y/Y level, schedule reliability in April 2024 was -12.1 percentage points lower.


Despite the addition of several new services on main East-West lanes, blank sailings arising from the current schedule disruptions continue to put a cap on vessel departures in the next 6 weeks. Access to capacity more and more critical even at premium rates. Capacity caught up in the longer t/t via COGH. Global vessel utilization at over 90% average.


On week 24, SCFI up 90.6% compared with three months ago, and +261.7% yoy to $3,379/40’. Same week Drewry WCI increased 2% to $4,801/40’ and has increased 202% when compared with the same week last year.


Bunker prices still quite stable, with no major swings in the last few months. Traditional bunker prices at similar levels yoy, while LNG-380e up 21% yoy, but well below the numbers of Q4/2023.

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