07/31/2024 | Press release | Distributed by Public on 07/31/2024 07:17
Latest report shows year-over-year increase of eight days for global average shipment time from initial booking to clearing gate at final port, five-day increase in actual transit time
AUSTIN, Texas--(BUSINESS WIRE)-- E2open Parent Holdings, Inc. (NYSE: ETWO), the connected supply chain SaaS platform with the largest multi-enterprise network, has published the latest edition of its Ocean Shipping Index, a quarterly benchmark report that provides insight for decision-making around global ocean shipments. Report data indicates significant year-over-year increases in the average total time for container transport, from booking to receipt, for several major global shipping lanes. The global average shipment duration increased to 66 days; an eight-day increase from the same period a year ago.
The e2open Ocean Shipping Index provides shippers with data-driven findings to better anticipate and adapt to factors contributing to delays. The report, published quarterly, is based on ocean shipping activity on e2open's business network, encompassing over 480,000 connected enterprises managing 16 billion transactions and tracking more than 70 million containers annually. Providing details down to booking date, e2open's Ocean Shipping Index arms the market with unique and timely insights for proactive and optimal decision-making.
"The expected increase in average global shipment durations is a reflection of the ongoing disruptions that continue to impact ocean shipping," said Pawan Joshi, EVP products and strategy for e2open. "The latest Ocean Shipping Index shows how weather, geopolitical conflict, port congestion and closures, and route diversions due to turmoil in the Red Sea region and drought issues in the Panama Canal are affecting the primary mode of transportation for global trade: ocean shipping. While most of these ongoing factors are unpredictable, shippers and carriers can utilize transit time data insights to make informed decisions when navigating the dynamic environment."
Key takeaways from the latest e2open Ocean Shipping Index report covering the second quarter of 2024 include:
Read the full e2open Ocean Shipping Index for additional data points and insights; view and subscribe at e2open.com . This report is one of several benchmark reports available from e2open to help companies manage increasingly complex and rapidly shifting global supply chains.
About e2open
E2open is the connected supply chain software platform that enables the world's largest companies to transform the way they make, move, and sell goods and services. With the broadest cloud-native global platform purpose-built for modern supply chains, e2open connects more than 480,000 manufacturing, logistics, channel, and distribution partners as one multi-enterprise network tracking over 16 billion transactions annually. Our SaaS platform anticipates disruptions and opportunities to help companies improve efficiency, reduce waste, and operate sustainably. Moving as one. ™ Learn More: www.e2open.com .
E2open and "Moving as one." are the registered trademarks of E2open, LLC. All other trademarks, registered trademarks and service marks are the property of their respective owners.
Media Contact:
5W PR for e2open
[email protected]
718.757.6144
Investor Relations Contact:
Dusty Buell
[email protected]
[email protected]
Corporate Contact:
Kristin Seigworth
VP Communications, e2open
[email protected]
[email protected]