Shipping article(s)
DP World to launch US$2.5B logistics infrastructure investment in 2025
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US softens stance on proposed port fees for Chinese vessels
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World Shipping Council calls on the U.S. to drop its planned port fees
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MOL strengthens chemical logistics business with new acquisition
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CMA CGM's first dual-fuel methanol vessel makes maiden call at Singapore
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Freight pricing, contracts become more fluid
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Sea-Intel notes volume shift from East to West Coast in H2 2024
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ILA ratifies new labour contract at US East, Gulf Coast ports
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Rating
DELAYS IMPROVING FASTER THAN 2015 USWC DISPUTE
September 2, 2022
Delays in the US West Coast (USWC) ports are easing faster than during a 2015 labour dispute at North America's major gateways, according to a recent report by Sea-Intelligence.
The maritime analyst said it looked at the only historical precedent of vessel delays that comes even closer to the current market situation: the US West Coast port labour dispute of early 2015.
Methodologically, it noted that it is possible to analyse how quickly operational normality was reverted in 2015 and use this as a benchmark for how much time it will take to revert the ongoing crisis.
"That said, issues in 2015 were related specifically to the ports on the US West Coast, were not global, and did not involve hinterland problems (all of which are present today). Therefore, we will get a minimum timeline for recovery, with the reality likely being longer," the maritime analyst said.
It added that for average delays, the peak deviation during the US West Coast labour dispute was 8.92 days. Given that it took 7-8 months for delays to get back to the pre-dispute baseline (set as January 2012-July 2014).
"In comparison, the peak pandemic deviation was 16.25 days (when compared to the pre-pandemic baseline set as January 2017-December 2019)," Sea-Intelligence said.
"This means that the current rate of improvement is faster than a prediction based on the recovery after the US West Coast labour dispute," the report added.
Photo: Sea-Intelligence
Sea-Intel noted that the figures show that the rate of improvement from the peak pandemic delay is the same as it was post-2015 labour dispute.
"We would see a reversal to the pre-pandemic baseline in 13 months, which translates to January 2023 (shown by the red line)," the maritime analyst said in its report.
Secondly, it added that if Sea-Intel take the current average rate of improvement so far in 2022, the average delay will revert to the pre-pandemic baseline in 11 months, which translates to November 2022 (shown by the green line).
"This means that the current rate of improvement is faster than a prediction based on the recovery after the US West Coast labour dispute," commented Alan Murphy, CEO Sea-Intelligence.
