Global transit times improving
The Ocean Shipping Index from E2 open is based on information from a business network that includes 420,000 interconnected companies managing 13.5 billion transactions and tracking 71 million containers annually.
In its issue for Q4/2022, the index reports that, in major ports in Asia, North America and Europe, the time from the first booking to clearance in the port of destination is 63 days on average. That's eight days less than in Q4/2021.
In particular, transit times for exports from Asia to North America and Europe went down by nine and eight days, respectively, compared to the previous quarters and by twelve days compared to Q4/2021.
The sharp fall in demand for goods shipped from Asia helped to ease the situation in the ports. Shipments from Europe to Asia took an average of 75 days from initial booking to clearance at the port of destination in this quarter. That's four days less than last quarter and also five days less than the same quarter of 2021.
The main ports contributing to the improvement in export time are Tuticorin, Valparaiso, Los Angeles, Vancouver and Jeddah. (sh)
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