E2open Parent Holdings, Inc. Global maritime shipping has released the latest edition of its Ocean Shipping Index, a quarterly benchmark report that provides insight into shipping decision-making. The report data shows that ocean transit times improved by 14 days from the same quarter in 2022, suggesting that ocean transit times are returning to pre-pandemic levels despite ongoing geopolitical concerns, labor strikes, recessions and other supply chain disruptions. The e2open Ocean Shipping Index provides shippers with a data-driven index to understand how long it takes to move cargo internationally and what factors contribute to perceived delays.
The report is based on historical data from e2open’s corporate network, where 420,000 member companies manage 14 billion transactions and monitor 71 million containers annually. The Ocean Shipping Index is unique in that it captures the ship’s posting date, providing greater insight into decision making. Key points from the latest e2open Ocean Shipping Index report include: As of July 1, 2023, it took an average of 58 days for a company to deliver cargo to truck or rail carriers after booking the cargo with an ocean carrier and completing the ocean voyage, an improvement of 14 days compared to the same quarter last year.
All trade channels decreased or remained flat in total bookings from the previous quarter to receipt time. Exports from Europe to North America and from North America to South America fell five days from the previous quarter, the most significant decline of any trade route. Compared to the same quarter in 2022, shipments from Europe to North America took 23 days less, and ocean shipments from North America to South America took 12 days less.
