Take a look at our most recent release of the Xeneta and Marine Benchmark Carbon Emissions Index (CEI), honoring top-performing carriers, "naming and faming". This week, we shine the spotlight on the trade route between the US East Coast and the Mediterranean. During the first quarter of 2023, Maersk emerged as the top performer on this route, attaining an overall CEI score of 91.6.
Q1'23 CEI Carrier Ranking
US East Coast - Mediterranean
During the first quarter of 2023, the backhaul trade of the US East Coast to the Mediterranean had a CEI of 111.0, 7.2 index points less than in Q4 of 2022—illustrating that the overall performance of all carriers operating on this trade route has improved. The primary driving force behind this CEI improvement was the average speed, which saw a 6% reduction compared to Q4 2022. This speed decrease is noteworthy as it marks the first significant decline since Q3 2020. The trend of decreasing speeds in different trade lanes is becoming increasingly apparent, and its effects on carbon emissions and the consequential improvement in CEI performance are evident, as observed in the US East Coast - Mediterranean trade.
In Q1 2023, Maersk outperformed other carriers on the trade with a CEI score of 91.6, which was 19.4 index points lower than the trade lane average, indicating their better performance compared to other carriers. Maersk achieved this by increasing the average size of their fleet by 9% compared to Q4 2022, with ships capable of carrying an average of 7,850 TEU. The fleet's speed averaged at 15.2 knots, the slowest since Q2 2020 on this trade. Maersk's filling factor was 66%, 6 percentage points higher than the trade lane average. While size, filling factor, and speed contribute to economies of scale, it is equally important to consider the fleet's average age.
During the previous quarter, Maersk reduced the average age of its fleet in this particular trade lane by 3.5 years. This is an achievement considering that in Q4 2022, Maersk had the highest average fleet age among carriers at 20.4 years. This improvement in fleet age directly correlates with the carrier's enhanced CEI score. Typically, this trade lane is serviced by some of the oldest ships in operation among East-West trades.
Undoubtedly, the US East Coast – Mediterranean back haul trade is as interesting as the front haul, as we can see some outliers and standouts in the data of this specific corridor. Keep on the lookout for more insights on our CEI and trade performances as we conclude the coverage of Q1 2023 next week.
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Stay one step ahead of your competitors by making well-informed and sustainable choices when selecting shipping carriers. Xeneta and Marine Benchmark offer an independent and trustworthy Carbon Emissions Index (CEI) data, ensuring accuracy without any guesswork. By utilizing AIS tracking of real-time sailings on 48 major trade routes worldwide, with coverage expanding further in the near future, you can rely on up-to-date information. Don't settle for outdated and unreliable data. Schedule a demo of the CEI today and begin making intelligent shipping decisions. Get a demo here.