E2open Ocean Shipping Index Indicates Global Ocean Shipment Times Have Stabilized Even Amid Disruptions

Rhea-AI Summary

E2open Parent Holdings, Inc. has released its latest Ocean Shipping Index report, which shows improved port performance globally. The average shipment duration time has stabilized across most key global lanes, with a year-over-year average duration decrease of roughly 10 days. Port operations have improved, with significant decreases in loading to unloading times at the port of Long Beach and improved export time performance at Mexican ports. However, European ports are showing slight increases in processing times.

Positive

• The average shipment duration time has decreased by roughly 10 days compared to the same quarter last year.
• Port operations have improved, with a 23% decrease in time from loading to unloading at the port of Long Beach.
• Mexican ports of Manzanillo and Altamira have improved export time performance.

Negative

• European ports are showing slight increases in processing times.

Indicators show improved port performance in most regions of the world, except Europe

AUSTIN, Texas--(BUSINESS WIRE)-- E2open Parent Holdings, Inc. (NYSE: ETWO), the connected supply chain SaaS platform with the largest multi-enterprise network, has released the latest edition of its Ocean Shipping Index, a quarterly benchmark report that provides insight for decision-making around global ocean shipments. Report data reflects that the total time from booking to receipt has stabilized across global shipping lanes.

The e2open Ocean Shipping Index provides shippers with data-driven findings to better anticipate and adapt to factors contributing to delays. The report is based on ocean shipping activity on e2open’s business network, encompassing over 420,000 connected enterprises managing 14 billion transactions and tracking 71 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.

“As expected, the average shipment duration time across most key global lanes has been stabilizing. While there are a multitude of factors that affect ocean shipment lead times, timely insights to the changes can help manage unplanned impacts on cargo delays,” said Pawan Joshi, EVP products and strategy at e2open. “Similarly, in-port wait times, customs clearance, and other conditions continue to present expected yet unpredictable disruptions. While not every challenge can be specifically predicted, timely information around shipping lead times and port activity can give stakeholders across the value chain the agility and confidence to make informed decisions when navigating the ever-changing environment.”

Key takeaways from the latest e2open Ocean Shipping Index report include:

• The global average for shipments was 58 days, from initial booking to clearing the gate at the final port and has not deviated from the previous quarter’s average. The year-over-year average duration is down roughly 10 days, from 68 days in the third quarter of 2022.
• The Maritime Containerized Shipping appears to have stabilized around the current duration to transport freight. It is now time to look for other ways to decrease the duration and remain consistent with best practices for all aspects of the industry sector.
• This quarter, port operations seem to have improved – for instance, the port of Long Beach saw a 23% decrease in time from loading to unloading; the Mexican ports of Manzanillo and Altamira have improved export time performance as well.
• Dun & Bradstreet data shows port performance times dropping between 10 to 18 days over the same time last year for processing through ports in Asia, and North and South America, while European ports are showing slight increases.

This report is one of several benchmark reports available from e2open to help companies navigate increasingly complex global supply chains.

View and subscribe to the latest e2open Ocean Shipping Index at e2open.com.

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 420,000 manufacturing, logistics, channel, and distribution partners as one multi-enterprise network tracking over 14 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231027003431/en/

Media Contact:

5W PR for e2open

e2open@5wpr.com

212.584.4307

Investor Relations Contact:

Dusty Buell

dusty.buell@e2open.com

investor.relations@e2open.com

Corporate Contact:

Kristin Seigworth

VP Communications, e2open

kristin.seigworth@e2open.com

pr@e2open.com

Source: E2open Parent Holdings, Inc.

FAQ

What is the average shipment duration time according to the report?

The average shipment duration time is 58 days, which is down roughly 10 days from the third quarter of 2022.

Which port saw a 23% decrease in time from loading to unloading?

The port of Long Beach saw a 23% decrease in time from loading to unloading.

Which ports have improved export time performance?

The Mexican ports of Manzanillo and Altamira have improved export time performance.

What is the overall trend in processing times at European ports?

European ports are showing slight increases in processing times.