improves in Q3 on key box trade lanes
In this week’s SeaIntel Sunday
Spotlight, SeaIntel has introduced a quarterly utilisation measure on the main
East-West trades: Asia-North Europe, Asia-Mediterranean and Transpacific. In all
three, utilisation improved in Q3 2014 year-on-year—3 percentage points on
Asia-North Europe, 9 percentage points on Asia-Mediterranean and 6 percentage
points on the Transpacific.
In the Asia-North Europe trade
lane, utilisation increased to 80.1 per cent compared to 77.6 per cent in Q3
By combining demand figures from
Container Trade Statistics (CTS) and supply data from SeaIntel’s own Trade
Lane Capacity Outlook database, SeaIntel was able to develop a quarterly
utilisation measure for the three main East-West trades.
SeaIntel drew attention to the
fact that it has used the theoretical nominal capacity of the vessels, as that
is the only capacity measure that is publically available and reasonably
standard across carriers. The nominal capacity will always be higher than the
possible loadable capacity, as loadable capacity depends on and is restricted by
a large number of factors, for example, draught restrictions, weight of the
cargo, 20’/40’ split, skill of stowage planners, etc. It should also be
mentioned, it said, that CTS only includes cargo that has final destination in
North Europe, but part of the capacity on the Asia-North Europe services will be
allocated for cargo destined for other areas, for example West Africa, which
then is offloaded in Spain or Morocco and then feedered to Africa.
SeaIntel has compared its
findings with the utilisation levels published by MOL, NYK and "K"
Line in their quarterly results and found that its utilisation measure
correlates quite well with the carriers, although at a level 10-15 percentage
below what the carriers report due to difference in measurement methodology,
showing that SeaIntel’s measure is a solid indicator of the relative
performance in the market, its release stressed.
Said Mr Alan Murphy, COO and
Partner in SeaIntel, "We also found that the utilisation level on the
Asia-Mediterranean trade has been relatively high in the last two quarters, and
well above the level we saw last year. In Q3 2014, the utilisation level was
88.4 per cent, which makes it the trade lane with the highest utilisation of the
three we have examined".
In the Transpacific trade, SeaIntel found the
lowest improvement in utilisation compared to 2013, with Q1 2014 being below Q1
2013, and Q2 2014 only 1.3 percentage points above Q2 2013, while Q3 2014
increased 7.3 percentage points year-on-year to 83.2 per cent, the release
Source : Exim
News Service - London, Nov. 27