We're back with the latest edition of Xeneta and Marine Benchmark Carbon Emission Index (CEI). This time we are looking at the US West Coast to Far East trade. In Q2, HMM led the US West Coast - Far East trade lane with a score of 55.3 points, surpassing the trade lane average by 34%. HMM's strong CEI performance wasn't attributed to one specific reason but rather a balanced approach across all measured CEI factors. This highlights the importance of a balanced performance for reducing carbon emissions in the shipping industry.
During Q2, the US West Coast to Far East trade lane improved the average CEI score by 4.9 index points, reaching 83.1. In general, the carriers performed better this quarter than in the past by increasing their ship size and capacity and decreasing the overall average ship age. It is also important to note that speed on this trade lane was the slowest registered this year with 14.4 knots in Q1’2023 but also that speed was increased to 14.7 knots in Q2’2023.
Q2'23 CEI Carrier Ranking
US West Coast - Far East
|2||YANG MING LINES||60.4|
When a carrier does well in most CEI criteria and remains close to the average scores in the trade lane, this can result in them being the top performer. HMM outperformed the pack with a better-than-trade lane average performance in speed and age. Moreso, delivering a higher-than-average, filling factor and ship size, which is the perfect combination to be the best performer during the past quarter.
For HMM, ship age was the biggest standout during this quarter, as they deployed 8-year-old ships, following a consistent decreasing trend to younger ships that started last year. Currently, HMM operates the youngest fleet out of the top four CEI performers.
Looking at the scores from the second and third best groups in the CEI from the US West Coast to the Far East, Yang Ming Lines performed really well, scoring 60.4 points. But the third company, ZIM, lost some points because their ships are two years older than the average. This matters a lot since older ships use more energy. Also, the average age of ships on this route has dropped to 10.6 years, which is the lowest it has ever been based on the CEI records for this route.
Join us in the upcoming weeks as we explore more trade lanes. We'll be looking at what sets the best carriers apart and who has the most opportunities to get better. We'll also identify which factors are most noticeable and which patterns keep showing up.
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