E2open Ocean Shipping Index Indicates Global Ocean Shipment Times Have Stabilized Even Amid Disruptions
Indicators show improved port performance in most regions of the world, except Europe
AUSTIN, Texas, October 27, 2023--(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.
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