E2open Ocean Shipping Index Cites Ongoing Conflict, Extreme Weather and Threat of Labor Strikes as Key Drivers of Port Congestion and Longer Transit Times
E2open's Ocean Shipping Index reveals significant increases in global ocean shipment durations, with average times rising from 58 days in Q3 2023 to 68 days in Q3 2024. The report highlights a 10-day year-over-year increase in global shipping times, primarily due to geopolitical unrest and port congestion. Notable increases include an 18-day surge in Asia-Europe routes (reaching 80 days) and 12-day increases in Europe-Asia routes (83 days). The index, based on data from over 480,000 connected enterprises managing 70+ million containers annually, identifies ongoing conflicts, extreme weather, and potential labor strikes as key factors affecting maritime transportation.
L'Indice di Spedizione Marittima di E2open rivela un aumento significativo delle durate delle spedizioni oceaniche globali, con i tempi medi che passano da 58 giorni nel terzo trimestre del 2023 a 68 giorni nel terzo trimestre del 2024. Il rapporto evidenzia un aumento anno su anno di 10 giorni nei tempi di spedizione globali, principalmente a causa di turbolenze geopolitiche e congestione nei porti. Aumenti notevoli includono un'impennata di 18 giorni nelle rotte Asia-Europa (raggiungendo i 80 giorni) e aumenti di 12 giorni nelle rotte Europa-Asia (83 giorni). L'indice, basato su dati di oltre 480.000 imprese collegate che gestiscono oltre 70 milioni di container all'anno, identifica conflitti in corso, condizioni meteorologiche estreme e potenziali scioperi come fattori chiave che influenzano il trasporto marittimo.
El Índice de Transporte Marítimo de E2open revela un aumento significativo en las duraciones de los envíos oceánicos a nivel global, con tiempos promedio que pasan de 58 días en el tercer trimestre de 2023 a 68 días en el tercer trimestre de 2024. El informe destaca un aumento interanual de 10 días en los tiempos de envío globales, principalmente debido a la inestabilidad geopolítica y la congestión portuaria. Entre los aumentos notables se incluye un incremento de 18 días en las rutas Asia-Europa (alcanzando 80 días) y aumentos de 12 días en las rutas Europa-Asia (83 días). El índice, basado en datos de más de 480.000 empresas conectadas que gestionan más de 70 millones de contenedores anualmente, identifica los conflictos continuos, el clima extremo y posibles huelgas laborales como factores clave que afectan el transporte marítimo.
E2open의 해양 운송 지수는 전 세계 해상 화물 배송 기간의 상당한 증가를 나타내며, 평균 소요 시간이 2023년 3분기 58일에서 2024년 3분기 68일로 증가했습니다. 이 보고서는 전년 대비 10일 증가한 세계 배송 시간을 강조하며, 이는 주로 지정학적 불안과 항구 혼잡 때문입니다. 주목할 만한 증가로는 아시아-유럽 노선에서 18일 증가(80일 도달)와 유럽-아시아 노선에서 12일 증가(83일)가 포함됩니다. 이 지수는 연간 7천만 개 이상의 컨테이너를 관리하는 48만 개 이상의 연결된 기업의 데이터를 기반으로 하며, 지속적인 갈등, 극한의 날씨, 잠재적인 노동 파업이 해상 운송에 영향을 미치는 주요 요인으로 식별됩니다.
L'Indice de Transport Maritime d'E2open révèle des augmentations significatives des durées d'acheminement océaniques mondiaux, avec des temps moyens passant de 58 jours au troisième trimestre 2023 à 68 jours au troisième trimestre 2024. Le rapport souligne une augmentation de 10 jours d'une année sur l'autre des temps d'expédition mondiaux, principalement en raison des tensions géopolitiques et de la congestion portuaire. Parmi les augmentations notables, on note une hausse de 18 jours des routes Asie-Europe (atteignant 80 jours) et une augmentation de 12 jours des routes Europe-Asie (83 jours). L'indice, basé sur des données provenant de plus de 480 000 entreprises connectées gérant plus de 70 millions de conteneurs annuellement, identifie les conflits en cours, les conditions climatiques extrêmes et de potentielles grèves comme des facteurs clés influençant le transport maritime.
Der Ozeanversandindex von E2open zeigt erhebliche Anstiege bei den globalen Versandzeiten, wobei die durchschnittlichen Zeiten von 58 Tagen im dritten Quartal 2023 auf 68 Tage im dritten Quartal 2024 steigen. Der Bericht hebt einen 10-tägigen Anstieg im Jahresvergleich der globalen Versandzeiten hervor, der hauptsächlich auf geopolitische Unruhen und Hafenüberlastungen zurückzuführen ist. Bemerkenswerte Anstiege umfassen einen Anstieg von 18 Tagen auf den Routen zwischen Asien und Europa (erreichen 80 Tage) sowie 12 Tage auf den Routen zwischen Europa und Asien (83 Tage). Der Index, der auf Daten von über 480.000 verbundenen Unternehmen basiert, die jährlich über 70 Millionen Container verwalten, identifiziert anhaltende Konflikte, extremes Wetter und mögliche Arbeitskämpfe als wichtige Faktoren, die den maritimen Transport beeinflussen.
- Extensive data coverage from 480,000 connected enterprises and 70+ million containers annually
- Strong market position as provider of critical shipping intelligence
- Significant increase in global shipping times (10 days YoY) may impact service quality
- Notable delays in key routes (Asia-Europe up 18 days, Europe-Asia up 12 days)
- Operational challenges from geopolitical conflicts and port congestion
Insights
The significant increase in global shipping durations presents substantial operational and financial implications for businesses relying on ocean freight. The 10-day YoY increase in average shipment duration to 68 days signals heightened supply chain risks and increased working capital requirements. The Asia-Europe route's dramatic 18-day increase is particularly concerning, as it affects one of the world's busiest trade corridors.
These extended transit times will likely result in higher inventory carrying costs, increased safety stock requirements and potential production delays. Companies will need to adjust their supply chain strategies, potentially including earlier ordering, alternative transportation modes, or near-shoring initiatives. The compounding effect of multiple disruptions suggests this volatility could persist through 2024, requiring businesses to build additional buffers into their supply chain planning.
Latest report indicates year-over-year increase of up to 10 days for average global ocean shipment durations
The e2open Ocean Shipping Index empowers shippers with data-driven insights to better anticipate and adapt to factors contributing to delays. The report is based on ocean shipping activity in e2open’s vast network of over 480,000 connected enterprises and managing billions of transactions and more than 70 million containers annually. Providing details down to booking date, e2open’s Ocean Shipping Index arms the market with unique and timely insights for proactive and optimal decision-making.
“The latest Ocean Shipping Index data reflects the impact of ongoing conflicts like the Red Sea attacks, compounded in recent months by short-term disruptions such as extreme weather and the threat of labor strikes,” said Pawan Joshi, EVP products and strategy for e2open. “The report shows that even when disruptions are short-term, they compound uncertainty, and the effects can continue to ripple through supply chains months later. Given the persistent volatility of the environment in which companies must operate their global supply chains, data-driven strategies are invaluable for shippers and carriers to mitigate the risk and impact of extended transit times.”
Key takeaways from the latest e2open Ocean Shipping Index report covering the third quarter of 2024 include:
-
Shipment duration from
Asia toEurope increased a staggering 18 days compared to Q3 2023, rising from 62 days to an average of 80 days from initial booking to clearing the gate at the final port. The most significant contributors to the increase in the YoY duration are booking time (five days) and actual transit time (13 days). -
Exports from
Europe toAsia averaged 83 days from booking to receipt, up 12 days from Q3 2023. Actual transit time of nine days is the most significant contributor.Asia toSouth America performed the same, up 12 days from the comparable quarter last year, averaging 83 days. -
South American shipments headed to
North America had an average transit time of 63 days, up seven days form last quarter and 12 days year-over-year. Key contributors to the increase were booking time (three days), origin port loading (two days) and actual transit time (seven days). -
Shipment durations from
South America toAsia increased by 12 days year-over-year in Q3 2024, averaging 87 days. This was primarily due to longer booking, loading, and transit times. - Overall, global ocean shipments averaged 68 days from initial booking to clearing the gate at the final port. This represents an increase of two days versus Q2 2024 and up 10 days from the duration seen in Q3 2023 (58 days).
Read the full e2open Ocean Shipping Index for additional data points and insights; view and subscribe at e2open.com. This report is one of several benchmark reports available from e2open to help companies manage increasingly complex and rapidly shifting global supply chains.
About e2open
E2open is the connected supply chain software platform that enables the world’s largest companies to transform the way they make, move, and sell goods and services. With the broadest cloud-native global platform purpose-built for modern supply chains, e2open connects more than 480,000 manufacturing, logistics, channel, and distribution partners as one multi-enterprise network tracking over 16 billion transactions annually. Our SaaS platform anticipates disruptions and opportunities to help companies improve efficiency, reduce waste, and operate sustainably. Moving as one.™ Learn More: www.e2open.com.
E2open and “Moving as one.” are the registered trademarks of E2open, LLC. All other trademarks, registered trademarks and service marks are the property of their respective owners.
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VP Communications, e2open
kristin.seigworth@e2open.com
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Source: E2open Parent Holdings, Inc.
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