E2open Ocean Shipping Index Cites Ongoing Conflict, Extreme Weather and Threat of Labor Strikes as Key Drivers of Port Congestion and Longer Transit Times

Latest report indicates year-over-year increase of up to 10 days for average global ocean shipment durations

DALLAS – Nov. 7, 2024 – 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. The report data reveals a considerable year-over-year (YoY) increase in global average shipment duration, from 58 days in Q3 2023 to 68 days in Q3 2024, along with a two-day increase from Q2 2024. The most significant contributor to the increase in YoY was the actual transit time of six days, driven by geopolitical unrest and longer dwell time at congested ports.

The e2open Ocean Shipping Index empowers shippers with data-driven insights to better anticipate and adapt to factors contributing to delays. The report is based on ocean shipping activity in e2open’s vast network of over 480,000 connected enterprises and managing billions of transactions and 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 latest Ocean Shipping Index data reflects the impact of ongoing conflicts like the Red Sea attacks, compounded in recent months by short-term disruptions such as extreme weather and the threat of labor strikes,” said Pawan Joshi, EVP products and strategy for e2open. “The report shows that even when disruptions are short-term, they compound uncertainty, and the effects can continue to ripple through supply chains months later. Given the persistent volatility of the environment in which companies must operate their global supply chains, data-driven strategies are invaluable for shippers and carriers to mitigate the risk and impact of extended transit times.”

Key takeaways from the latest e2open Ocean Shipping Index report covering the third quarter of 2024 include:

  • Shipment duration from Asia to Europe increased a staggering 18 days compared to Q3 2023, rising from 62 days to an average of 80 days from initial booking to clearing the gate at the final port. The most significant contributors to the increase in the YoY duration are booking time (five days) and actual transit time (13 days).
  • Exports from Europe to Asia averaged 83 days from booking to receipt, up 12 days from Q3 2023. Actual transit time of nine days is the most significant contributor. Asia to South America performed the same, up 12 days from the comparable quarter last year, averaging 83 days.
  • South American shipments headed to North America had an average transit time of 63 days, up seven days form last quarter and 12 days year-over-year. Key contributors to the increase were booking time (three days), origin port loading (two days) and actual transit time (seven days).
  • Shipment durations from South America to Asia increased by 12 days year-over-year in Q3 2024, averaging 87 days. This was primarily due to longer booking, loading, and transit times.
  • Overall, global ocean shipments averaged 68 days from initial booking to clearing the gate at the final port. This represents an increase of two days versus Q2 2024 and up 10 days from the duration seen in Q3 2023 (58 days).

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 15 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.  

###

Contacts

Media Contact:
5W PR for e2open
e2open@5wpr.com
408.504.7707

Corporate Contact:
Kristin Seigworth
VP Communications, e2open
kristin.seigworth@e2open.com
pr@e2open.com

Latest

December 2, 2024

Employee Spotlight: Diana Olivera

E2open is powered by a strong global network of problem solvers and innovators driven by strong values and our company culture. Together, we are focused on doing what’s right in business and in our communities. Every month, we will shine a spotlight on an exceptional team member who is helping us transform the supply chain industry. This month, we held a Q&A with Diana Olivera, Solution Architect at e2open.

Read More
November 21, 2024

Improving Channel Performance with the Right Channel Management Software

Close your eyes and think about all the places you can now purchase products. There are traditional brick-and-mortar retail outlets like GAP or Dick’s Sporting Goods, or online e-commerce sites like Amazon or Newegg. You can click an ad you see on Instagram or Facebook, or maybe your favorite YouTuber shared a new product. It's never been easier for companies to reach customers. However, this proliferation of channels presents brands with a plate of jumbled spaghetti noodles – disparate partners and mounds of unorganized data – and they are left to try and sort out one strand of pasta from the next. Such complexity demands a more sophisticated, organized approach to channel management.

Read More
November 21, 2024

Freightos and e2open Collaborate to Simplify Air Cargo Bookings

Barcelona, Spain, November 21, 2024 – Freightos Limited (NASDAQ: CRGO), a leading vendor-neutral booking and payment platform for international freight, today announced the official launch of its integration with e2open (NYSE: ETWO), a top provider of connected supply chain software. This integration, which follows a successful beta phase, embeds WebCargo by ...

Read More
Subscribe to Receive e2open Updates

E2open Subscription Center

Interested in Learning More? Stay current with the latest e2open news – from company updates to thought-leadership pieces, and so much more!

Complete this form to subscribe to e2open updates.

Are you ready to boost your supply chain capabilities? Let's get started.

Let's Get Started