E2open Ocean Shipping Index Reveals Sharp Increase in Global Ocean Shipment Transit Times Due to Multiple Ongoing Disruptions
E2open Parent Holdings, Inc. (NYSE: ETWO) has released its latest Ocean Shipping Index, revealing significant increases in global ocean shipment transit times. The report shows:
1. Global average shipment duration increased to 66 days, an 8-day increase year-over-year.
2. Actual transit time increased by 5 days compared to Q2 2023.
3. Notable increases in shipping lanes: South America to Asia (87 days, up 15 days), Asia to Europe (75 days, up 14 days), and Europe to Asia (84 days, up 11 days).
The index, based on e2open's network data of over 480,000 connected enterprises and 70 million containers, provides insights for shippers to adapt to ongoing disruptions in ocean shipping.
E2open Parent Holdings, Inc. (NYSE: ETWO) ha pubblicato il suo ultimo Ocean Shipping Index, rivelando significativi aumenti nei tempi di transito delle spedizioni marittime globali. Il rapporto mostra:
1. La durata media globale delle spedizioni è aumentata a 66 giorni, con un incremento di 8 giorni rispetto all’anno precedente.
2. Il tempo di transito effettivo è aumentato di 5 giorni rispetto al secondo trimestre del 2023.
3. Aumenti significativi nelle rotte di spedizione: America del Sud verso Asia (87 giorni, +15 giorni), Asia verso Europa (75 giorni, +14 giorni) e Europa verso Asia (84 giorni, +11 giorni).
L'indice, basato sui dati di rete di e2open di oltre 480.000 imprese connesse e 70 milioni di container, offre spunti ai trasportatori per adattarsi alle attuali interruzioni nella spedizione oceanica.
E2open Parent Holdings, Inc. (NYSE: ETWO) ha publicado su último Ocean Shipping Index, revelando aumentos significativos en los tiempos de tránsito de los envíos oceánicos a nivel global. El informe muestra:
1. La duración media global de los envíos ha aumentado a 66 días, un incremento de 8 días en comparación con el año anterior.
2. El tiempo de tránsito real ha aumentado 5 días en comparación con el segundo trimestre de 2023.
3. Aumentos notables en las rutas de envío: América del Sur a Asia (87 días, +15 días), Asia a Europa (75 días, +14 días) y Europa a Asia (84 días, +11 días).
El índice, basado en los datos de la red de e2open de más de 480,000 empresas conectadas y 70 millones de contenedores, proporciona información a los transportistas para adaptarse a las continuas interrupciones en el envío oceánico.
E2open Parent Holdings, Inc. (NYSE: ETWO)가 최근 선보인 Ocean Shipping Index에서 전세계 해상 화물의 운송 시간에 상당한 증가가 있음을 밝혔습니다. 보고서에 따르면:
1. 전세계 평균 화물 운송 기간이 66일로 증가했으며, 이는 전년 대비 8일의 증가입니다.
2. 실제 운송 시간은 2023년 2분기 대비 5일 증가했습니다.
3. 주요 선박 운송 경로의 증가: 남미에서 아시아까지 (87일, +15일 증가), 아시아에서 유럽까지 (75일, +14일 증가), 유럽에서 아시아까지 (84일, +11일 증가).
지수는 e2open의 48만 개 이상의 연결된 기업과 7천만 개의 컨테이너에 대한 네트워크 데이터를 기반으로 하여 해상 화물 운송의 지속적인 혼잡에 적응할 수 있는 통찰을 제공합니다.
E2open Parent Holdings, Inc. (NYSE: ETWO) a publié son dernier Ocean Shipping Index, révélant des augmentations significatives des temps de transit des expéditions maritimes dans le monde. Le rapport montre :
1. La durée moyenne des expéditions à l'échelle mondiale a augmenté à 66 jours, soit une augmentation de 8 jours par rapport à l'année précédente.
2. Le temps de transit réel a augmenté de 5 jours par rapport au 2e trimestre de 2023.
3. Augmentations notables des routes d'expédition : Amérique du Sud vers Asie (87 jours, +15 jours), Asie vers Europe (75 jours, +14 jours) et Europe vers Asie (84 jours, +11 jours).
L'indice, basé sur les données du réseau e2open regroupant plus de 480 000 entreprises connectées et 70 millions de conteneurs, fournit des informations aux expéditeurs pour s'adapter aux perturbations continues dans l'expédition maritime.
E2open Parent Holdings, Inc. (NYSE: ETWO) hat den neuesten Ocean Shipping Index veröffentlicht, der erhebliche Anstiege der globalen Transportzeiten auf dem Meer zeigt. Der Bericht zeigt:
1. Die globale Durchschnittsdauer der Versendungen ist auf 66 Tage gestiegen, ein Anstieg um 8 Tage im Jahresvergleich.
2. Die tatsächliche Transportzeit ist im Vergleich zum 2. Quartal 2023 um 5 Tage gestiegen.
3. Bedeutende Anstiege bei den Versandrouten: Südamerika nach Asien (87 Tage, um 15 Tage gestiegen), Asien nach Europa (75 Tage, um 14 Tage gestiegen) und Europa nach Asien (84 Tage, um 11 Tage gestiegen).
Der Index, der auf den Netzwerkdaten von e2open mit über 480.000 verbundenen Unternehmen und 70 Millionen Containern basiert, bietet Einblicke, damit Versender sich an die anhaltenden Störungen im internationalen Versand anpassen können.
- E2open's Ocean Shipping Index provides valuable data-driven insights for shippers and carriers
- The company's network encompasses over 480,000 connected enterprises and tracks more than 70 million containers annually
- E2open offers multiple benchmark reports to help companies manage complex global supply chains
- Global average shipment duration increased by 8 days year-over-year, potentially impacting supply chain efficiency
- Significant increases in transit times for major shipping lanes may lead to higher costs and delays for businesses
- Ongoing disruptions in ocean shipping, including geopolitical conflicts and weather issues, continue to affect global trade
Insights
The latest e2open Ocean Shipping Index reveals significant disruptions in global ocean shipping, with potential ripple effects across industries. The 8-day increase in global average shipment duration to 66 days is a clear indicator of ongoing challenges in the supply chain ecosystem.
Several factors contribute to these delays:
- Geopolitical conflicts, particularly in the Red Sea region
- Weather-related issues
- Port congestion and closures
- Drought affecting the Panama Canal
These disruptions are likely to impact inventory management, production schedules and ultimately, consumer prices. Companies relying heavily on ocean freight may need to reassess their logistics strategies, potentially considering alternative transportation methods or adjusting their inventory levels to mitigate risks.
The most concerning trend is the 5-day increase in actual transit time, which directly affects the predictability and efficiency of supply chains. This could lead to increased working capital requirements and potential stockouts for businesses not adequately prepared.
The data from e2open's network, covering 480,000 connected enterprises and 70 million containers annually, provides a comprehensive view of the global shipping landscape. This information is important for businesses to make data-driven decisions in an increasingly volatile environment.
While the report doesn't provide financial figures, the implications for businesses are significant. Increased shipping times often translate to higher costs, which may squeeze profit margins or be passed on to consumers, potentially affecting demand and economic growth.
The e2open Ocean Shipping Index highlights a worrying trend in global trade dynamics. The increase in shipping times across major routes suggests a potential slowdown in global commerce, which could have far-reaching economic implications.
Of particular note:
- The route from Asia to Europe now averages 75 days, up 14 days year-over-year
- South America to Asia shipments take 87 days, a 15-day increase from Q2 2023
- Europe to Asia routes average 84 days, up 11 days from the previous year
These extended shipping times could lead to:
- Increased inventory costs for businesses
- Potential supply shortages in various sectors
- Inflationary pressures due to higher transportation costs
- Reduced competitiveness for export-dependent economies
The consistent increase across multiple routes suggests a systemic issue rather than isolated incidents. This could signal a broader restructuring of global supply chains, with businesses potentially seeking to nearshore or diversify their supplier base to mitigate risks.
Interestingly, the Europe to North America route maintained its 51-day duration, bucking the trend seen in other major lanes. This stability might lead to increased trade flows along this route as businesses seek more predictable shipping times.
The ongoing disruptions in the Red Sea and Panama Canal are likely to have long-lasting effects on global trade patterns. Countries and businesses may need to reassess their trade strategies and invest in alternative routes or transportation methods to ensure resilience in their supply chains.
E2open's Ocean Shipping Index leverages data from a vast network of 480,000 connected enterprises, providing a comprehensive view of global ocean shipping trends. This level of data aggregation and analysis is becoming increasingly important in navigating the complexities of modern supply chains.
The report's findings underscore the importance of advanced supply chain technologies:
- Predictive analytics to anticipate potential delays and disruptions
- Real-time tracking to monitor shipments and adjust plans accordingly
- AI-driven route optimization to navigate around bottlenecks and find alternative paths
- Digital twin technology for scenario planning and risk assessment
The increase in shipping times highlights the need for more robust and flexible supply chain management systems. Companies that invest in these technologies are likely to gain a competitive edge by better managing inventory levels, reducing carrying costs and improving customer satisfaction through more reliable delivery times.
The report's ability to provide insights down to the booking date demonstrates the granularity of data now available to logistics professionals. This level of detail enables more precise planning and can help in identifying specific pain points in the shipping process.
As disruptions become more frequent and unpredictable, the value of platforms like e2open's, which can process 16 billion transactions and track 70 million containers annually, becomes increasingly apparent. These platforms not only provide visibility but also enable proactive decision-making through advanced analytics and machine learning algorithms.
The ongoing challenges in global shipping are likely to accelerate the adoption of digital transformation initiatives in the logistics sector, potentially leading to a more resilient and adaptive global supply chain ecosystem in the long term.
Latest report shows year-over-year increase of eight days for global average shipment time from initial booking to clearing gate at final port, five-day increase in actual transit time
The e2open Ocean Shipping Index provides shippers with data-driven findings to better anticipate and adapt to factors contributing to delays. The report, published quarterly, is based on ocean shipping activity on e2open’s business network, encompassing over 480,000 connected enterprises managing 16 billion transactions and tracking 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 expected increase in average global shipment durations is a reflection of the ongoing disruptions that continue to impact ocean shipping,” said Pawan Joshi, EVP products and strategy for e2open. “The latest Ocean Shipping Index shows how weather, geopolitical conflict, port congestion and closures, and route diversions due to turmoil in the Red Sea region and drought issues in the Panama Canal are affecting the primary mode of transportation for global trade: ocean shipping. While most of these ongoing factors are unpredictable, shippers and carriers can utilize transit time data insights to make informed decisions when navigating the dynamic environment.”
Key takeaways from the latest e2open Ocean Shipping Index report covering the second quarter of 2024 include:
- The global average shipment duration increased over the last quarter by two days, up to 66 days, an eight-day increase from the second quarter of 2023. The most significant contributor to the increase year-over-year is actual transit time, up five days.
-
Exports from
South America toAsia averaged 87 days, an increase of six days from last quarter and up 15 days from Q2 2023.Asia toSouth America averaged 78 days, an increase of three days from last quarter and up 10 days from Q2 2023. -
Asia toEurope container transport averaged 75 days, an increase of two days over last quarter and a 14-day increase from the same period a year ago.Europe toAsia averaged 84 days, the same duration as last quarter but up 11 days from Q2 2023. -
Exports from
Asia toNorth America andNorth America toAsia averaged 63 and 84 days, respectively, reflecting an increase of seven and three days in the respective routes compared to the year-ago period. -
Europe toNorth America was the only major shipping lane with the same container transport duration, 51 days, as the year-ago period.
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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Source: E2open Parent Holdings, Inc.
FAQ
What is the current global average shipment duration according to E2open's Ocean Shipping Index for Q2 2024?
How has the actual transit time changed year-over-year for ocean shipments based on ETWO's report?
What are the average shipment durations for the Asia to Europe and Europe to Asia routes in Q2 2024?
How many connected enterprises and containers does E2open's business network encompass?
