Introducing our latest edition of the Xeneta and Marine Benchmark Carbon Emissions Index (CEI), where we highlight and recognize top-performing carriers. This time, we focus on the fronthaul trade route from the Far East to the Mediterranean. In Q1 2023, Ocean Network Express (ONE) stood out as the leader on this trade lane, achieving a CEI score of 62.2.
Q1'23 CEI Carrier Ranking
Far East - Mediterranean
|2||Yang Ming Lines||73.3|
ONE’s CEI score in Q1 2023 is 29% better than the average score. Since the start of the CEI in Q1 2018, ONE has consistently emitted less CO2 per tonne of cargo carried than the trade lane average.
ONE’s positive performance this quarter is down to several factors, the first is the average speed at which the carrier’s ships were sailing. At 13.0 knots, the average speed sailed by ships deployed by ONE was 15% lower than average and 1.1 knots slower than ONE’s own average speed in Q4 2022. The ships deployed by ONE on this trade in this quarter were an average of 5.0 years old, whereas the average age of all ships on this trade was 38% higher.
ONE achieved a filling factor that matched the trade lane average, but it increased by 2.5 percentage points compared to Q4 2022. However, one downside for ONE is that its ships were, on average, 7.9% smaller than the trade lane average.
If we look at the whole trade, the average CEI grade is 88.1, which is the lowest and therefore best CEI score on this trade since Q2 2020. It's important to mention that the ships in this trade have reached their highest average size yet, carrying around 160,000 DWT on average.
In addition to the ships being larger on average, there has been a 2.7 percentage point increase in the average filling factor. This indicates successful capacity management by the carriers, as their ships continue to sail at a similar load factor as in past quarters despite poor demand.
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