The latest report indicates that the average duration of global sea transport has increased by up to 10 days compared to last year

DALLAS, November 7, 2024–(BUSINESS WIRE)–E2open Parent Holdings, Inc. (NYSE: ETWO), the connected supply chain SaaS platform with the largest multi-enterprise network, has released the latest edition of its Ocean Shipping Index, a quarterly Benchmark report that provides insights for decision-making around global maritime transportation. The report data shows a significant year-over-year (year-over-year) increase in global average shipping time, from 58 days in the third quarter of 2023 to 68 days in the third quarter of 2024, along with an increase of two days compared to the second quarter of 2024. The most significant contribution The year-on-year increase was due to the actual transit time of six days, which was due to geopolitical unrest and longer dwell times in congested ports.

The e2open Ocean Shipping Index provides shippers with data-driven insights to better anticipate and adapt to factors that cause delays. The report is based on maritime shipping activity across e2open’s vast network of over 480,000 affiliates and managing billions of transactions and more than 70 million containers per year. e2open’s Ocean Shipping Index provides details up to the booking date, providing the market with unique and timely insights for proactive and optimal decision making.

“The latest Ocean Shipping Index data reflects the impact of ongoing conflicts such as the Red Sea attacks, exacerbated in recent months by short-term disruptions such as extreme weather conditions and the threat of labor strikes,” said Pawan Joshi, EVP Products and Strategy at e2open . “The report shows that even short-term disruptions increase uncertainty and the impact can ripple through supply chains for months to come. Given the ongoing volatility of the environment, companies must operate their global supply chains in a data-driven manner. Strategies are invaluable for shippers and carriers to mitigate the risk and impact of extended transit times.”

Key findings from the latest e2open Ocean Shipping Index report for Q3 2024 include:

• The transport time from Asia to Europe has increased by an incredible 18 days compared to the third quarter of 2023, namely from 62 days to an average of 80 days from the first booking to the release of the gate at the final port. The most significant factors driving the increase in transit time year-over-year are booking time (five days) and actual transit time (13 days).

• Exports from Europe to Asia took an average of 83 days from booking to receipt, 12 days more than in the third quarter of 2023. The actual transit time of nine days is the largest contributor. From Asia to South America the performance was the same, 12 days more than in the same quarter last year, an average of 83 days.

• South American shipments to North America had an average transit time of 63 days, up seven days from last quarter and 12 days year-over-year. The main factors contributing to this increase were the booking time (three days), the loading at the port of origin (two days) and the actual transit time (seven days).

• Shipping time from South America to Asia increased by 12 days year-over-year in the third quarter of 2024 and averaged 87 days. This was primarily due to longer booking, loading and transit times.

• Overall, global sea transports took an average of 68 days from the first booking to the release of the gate at the final port. This represents a two-day increase over the second quarter of 2024 and a ten-day increase over the third quarter of 2023 duration (58 days).

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