fter the coronavirus outbreak in 2020,
1. Drop in demand.
2. Adjust down the Supply (Space & vessel deployment).
3. Unexpected increase in demand.
With the continuation of the overall imbalance situation
In the container shipping market, supply is not yet fully keeping up with demand.
Coupled with the tightened regulation on COVID, the shortage resulted in the severe operation delay which were followed by a significant vessel delay in schedule.
As of 2021, the reliability rate of Vessel schedule has been record low at 30 %, meaning only 3 out of 10 vessels make their scheduled delivery date. (Chart 03)
Average transit time has literally been doubled from 40 days (China-US) to 80 days, which has been resulting in shortage in supply as a whole, and in carrier profits falling short of expectations. What also supports the highest ever feight fare level is the strongest containership charter market in 12 years but not yet to reach peak.