SeaIntel: Reliability is money

Arriving on time can save millions of dollars, writes SeaIntel in a new analysis. A shipping company could save hundreds of millions on fuel alone just by increasing the reliability of its ships.

Photo: Hanjin

In its weekly report, the analysts at SeaIntel have looked into the cost of late arrivals. Specifically, the costs shipowners have related to not delivering containers on time, and thus the millions of dollars they miss out on by being unreliable.

“It’s clear that the shipowners lose a significant amount of money by sailing with delayed vessels – as much as USD 429 million, on the routes we’ve looked at. It’s more difficult to assess the loss on smaller routes, and especially feeder routes. But based on the overall assessment of the main routes, it’s not unfair to say that the annual fuel cost for the shipping companies will be USD 600-800 million,” writes SeaIntel.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Ørsted wants Maersk as customer in green methanol project

Energy company Ørsted has just bought 45 percent of Swedish Flagship One, which is set to produce green methanol for the shipping industry as of 2024. Ørsted's head of hydrogen wants Maersk as customer in the large scale project, he tells ShippingWatch.

Singapore names its biggest bunker suppliers

TFG Marine, a bunker company founded by two John Fredriksen-controlled carriers and commodity trader Trafigura, is among the five biggest bunker suppliers in Singapore in 2021. See the list here.

Record number of ships passed through Suez in 2021

Despite the blockage in the Suez Canal during spring of last year, the crucial waterway set a record for the number of ships passing through in 2021, reports Bloomberg. The canal is expected to complete an expansion by the middle of next year.

Related articles

Latest news

See all jobs