We return with the latest update on the Xeneta and Marine Benchmark Carbon Emissions Index (CEI) results. Our focus this time is on the trade route between the Far East and North Europe, which achieved a record CEI score of 88.4. CMA CGM stood out as the best performer, scoring 76.1, 12.3 points lower than the trade lane average.
Q2'23 CEI Carrier Ranking
Far East - North Europe
During Q2 2023, CMA CGM utilized the smallest ships on this trade lane, maintaining a remarkable filling factor of over 90% since Q1 2020. In this trade lane, the carrier achieved a filling factor of 95.1%. Additionally, CMA CGM operated with a reduced fleet size and slower speed, reaching 15.4 knots, the lowest levels recorded for this trade lane by the company.
In comparison between CMA CGM, Evergreen, and HMM—carriers closely trailing CMA CGM in CEI scoring—we notice a consistent performance pattern. Yet, the primary factor responsible for the high scores achieved by HMM and Evergreen was their utilization of exceptionally young ships, aged 2.9 and 3.2 years, respectively.
Although young ships do influence CEI performance, it's important to highlight that filling factor and ship size also play significant roles. These were the factors that contributed to CMA CGM's top score on this occasion. On the other hand, carriers like Hapag-Lloyd, which did not perform as well, deploy large ships with a capacity to carry over 18,500 TEU, but their fleet's average age is higher, currently impacting their scoring negatively.
Overall, the Far East to North Europe trade lane shows improvement in its CEI score, with ships achieving higher filling factor points on average and utilizing younger vessels.
We urge shippers to pay attention to these evolving trends in the trade lanes, identifying carriers that prioritize carbon neutrality and effective capacity management in the current market. Such considerations could prove advantageous for all parties involved in the long run.
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