E2open Ocean Shipping Index Reveals Sharp Increase in Global Ocean Shipment Transit Times Due to Multiple Ongoing Disruptions
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.
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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.
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