Containerships moving super slow due to plunging sailing rate

Posted on June 2, 2023   |  

During the pandemic, liner operators rose the average sailing rate by 4% due to high demand and extensive port congestion. 

At present, the situation is very different as in Q1 2023, the average sailing rate fell annually by 4% to 13.8 knots and it could drop by 10% before 2025.

The average speed of the global liner fleet saw an uptick, in line with falling bunker prices. 

In the last 2 years, the entire world box fleet's average speeds fell by one knot, a decline of 6% from the 16.5-knot global average.

Maersk and MSC would be placing 9 extra vessels into the Asia-Europe trade in 2023, which will absorb all the new capacity as these services will move up to 3 days slower.