Average rollover rates at ports surveyed by Ocean Insights increased to 37% in December and in some ports went past the 50% mark. The level of rollovers is calculated on the basis of percentage of cargo from a line that left port on a different vessel than originally scheduled.
The figures from Ocean Insights illustrate the impact the collapse in demand in the first half of last year followed by a 30% surge in demand in the second half of 2020, and a resulting shortage of containers that has left shippers scrambled for equipment to ship their goods in.
“Of the 20 global ports for which Ocean Insights collates data, 75% saw an increase in the levels of rollover cargo in December compared to the previous month,” said Ocean Insights coo Josh Brazil.
“Major transshipment facilities such as Port Klang in Malaysia and Colombo in Sri Lanka recorded 50% or more of cargo delayed, with the world’s largest transshipment hub in Singapore and leading primary ports such as Shanghai and Busan rolling over more than a third of their containers, last month.”
At the top end Port Klang in Malaysia saw a 9% increase in rollovers to 55%, and Gioia Tauro in Italy saw some 62% of cargoes rolled over in December. The world’s two largest container ports Shanghai and Singapore saw rollover rates rise 7% to 37%, and 2% to 42% respectively in the last month of 2020.
South Korea’s Busan port which had seen a 3% decrease in rollovers in November last year as lines added in extra loaders saw this number going back up by 4% in December.
“This indicates that the levels of cargo are still rising while the extra loader capacity which has been deployed to meet the raised levels of demand appears to be having little effect,” Brazil explained.
The shipping lines with the highest rollover rates in December according to Ocean Insights were CMA CGM with 51% and Ocean Network Express (ONE) with 50%.
Copyright © 2021. All rights reserved. Sea trade, a trading name of In-forma Markets (UK) Limited.
The country’s Shipping Deputy Ministry announced the new range of green incentives to reward vessels that demonstrate effective emissions reductions and encourage shipowners to hoist the green, yellow and white flag.
From the fiscal year 2021, annual tonnage tax will be reduced by up to 30% for each vessel that demonstrates proactive measures to reduce its environmental impact, ensuring shipowners are rewarded for sustainable shipping efforts.
The Cyprus Ministry is a strong advocate for sustainable shipping and believes broad and diverse measures are needed at both a global and regional level to achieve emissions reduction targets and a sustainable future for the industry.
The EU member country revealed plans some time ago to offer such incentives and got the okay at the end of 2019, when European competition authorities extended the island nation’s tonnage tax regime for 10 years.
The flag has been in steady decline since a mid-1990s peak when around 6% of the world oceangoing fleet flew the flag. Today with just over 1,000 oceangoing vessels of a total gross tonnage exceeding 24m flying the island’s flag it’s world share is just under 2% and the tonnage tax incentive is part of a long-term strategic vision for shipping, maritime and marine-related activities.