Update and Analysis of The Global Seafreight Market This Update and Analysis of the Global Seafreight Market is exclusively for DSV Air & Sea and made by Lars Jensen CEO and partner in Vespucci Maritime. Lars Jensen has 19 years of experience in the shipping industry and has for the last 10 years worked as an independent market analyst. December 21, 2021 Getting ready for 2022 An absolutely unprecedented 2021 is almost behind us, and it is time to start looking at 2022. But before we do that, it might be useful to highlight a few key statistics from 2021. The global average freight rate index according to the Container Trade Statistics (CTS) stood at 96 in December 2020 before the turn of the year. According to the most recent data from the CTS, the global rate index stood at 184 in October with no imminent signs of a drop. Looking at the period January to October, global volumes increased from 138 million TEU in 2020 to 149 million TEU in 2021. However, part of this increase was attributable to efforts to catch up with the backlog from the early days of the pandemic. In 2019, the market saw the shipment of 141 million TEU. In terms of schedule reliability, performance was already very poor at the end of 2020 with 55% of all vessels arriving late, the average delay being 5.8 days. However, as 2021 unfolded, the situation became even worse, and by October 2021, 65% of all vessels were late, now with an average delay of more than a week. The first few days of 2021 saw headlines related to major problems in Los Angeles where more than 30 vessels were waiting to berth, some vessels waiting up to two weeks. Fast forward to December 2021, the queue was approaching 100 vessels, some waiting up to one month to berth. It would be possible to continue with a litany of disruptive events, which include the Suez blockage, the closure of Yantian and Ningbo ports, devastating container fires and washed-out rail lines.
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