Check out the latest iteration of the Xeneta and Marine Benchmark Carbon Emission Index (CEI). This update turns the spotlight to the Far East – Mediterranean trade corridor. ONE was the top performer in Q2, scoring 67.7 points, 20.9 index points better than the trade lane's average score.
Q2'23 CEI Carrier Ranking
Far East - Mediterranean
|3||Yang Ming Lines||76.8|
The Far East to Mediterranean trade route witnessed a marginal increase of 0.4 index points in its overall average CEI, resulting in a Q2 2023 rating of 88.6. However, this shift arises from modest operational modifications among carriers and does not signify a positive influence on the average CEI.
What makes ONE stand out from its counterparts is the primary distinction evident in the average ship age within its fleet. The ships operated by ONE boast an average age of merely 3.9 years, presenting contrast to the trade lane's average of 7.5 years.
A low age is a trait shared among the CEI’s three best-performing carriers in Q2, with both CMA CGM and Yang Ming, who round out the top three, deploying ships aged an average of 6.9 years. In Q2 2023, ONE deployed smaller yet highly utilized ships, achieving a filling factor of 93.4%, 0.4 percentage points higher than the trade lane average. Other carriers opted for the deployment of larger ships, yet encountered challenges in achieving optimal occupancy.
In contrast to ONE's strong performance, MSC and Hapag-Lloyd performed with CEI scores exceeding 100 points each (101.6 and 109.5, respectively). Notably, MSC and Hapag-Lloyd operated older vessels, differing by 5 years from ONE's fleet.
During the second quarter of 2023, the significance of ship age becomes pronounced within this trade route. While carriers continue to acquire new ships, it is crucial to take into account the influence of age on a carrier's carbon footprint, extending beyond just the size of the ships.
The potential introduction of new ship models, in conjunction with the arrival of newly purchased and chartered vessels by carriers in the upcoming year, might impact the average age of ships in the coming quarters. Make sure you monitor the progress closely as we delve into the factors that have the greatest impact on the CEI.
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