ShippingWatch

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.

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