Presenting our latest edition of the "naming and faming" carrier carbon emissions ranking, utilizing the Xeneta and Marine Benchmark Carbon Emissions Index (CEI). This time, we delve into the Far East to South American East Coast trade, which achieved its most exceptional quarter in Q1 2023. Taking the top spot as the best-performing carrier is Pacific International Lines.
The Carbon Emissions Index (CEI) for the Far East to South American East Coast trade witnessed a significant improvement, dropping 10.5% in Q1 2023 from Q4 2022. With a score of 86.5 points, this represents the lowest albeit the most favorable CEI recorded for this trade since its measurement began in Q1 2018.
The biggest driver in the improvement in the CO2 emitted per tonne of cargo carried is a drop in the average speed being sailed. In Q1 2023 the average speed of ships sailing between the Far East to the South American East Coast was 15.6 knots. This is down by 1 knot from Q4 2022 and the first time it has been under 16 knots on this trade.
Q1'23 CEI Carrier Ranking
Far East - S. America East Coast
|1||Pacific International Lines||61.4|
Pacific International Lines (PIL) scored the lowest and thus the best CEI, down to 61.4 points, 29% better than the trade lane average. Just as speed was key to improving the trade lane average in Q1, PIL sailed much slower than the rest of the carriers. Its average speed in Q1 2023 was just 13.1 knots. No other carrier sailed slower than 14.6 knots.
Furthermore, the average ship operated by PIL on this trade was 14.4 bigger than the trade lane average, but still maintained a filling factor in line with the average.
The Far East to the South America East Coast is one of the top trades with the biggest quarter-on-quarter decline in its CEI. As speed is the biggest factor behind the improvement it can quickly lead to questions over whether this is one of the trades where carriers are having to adjust their operations due to the new CII regulation, or if it is purely down to poorer market conditions.
Also having a positive impact on the trade’s average CEI is a slight increase in the average size of the ships. Despite this, carriers were equally successful in filling up their ships, keeping the average filling factor flat from the previous quarter.
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