Yang Ming is the “emissions hero” of container shipping

Xeneta’s analysis Carbon Emissions Index (CEI) has described the Taiwanese container shipping line Yang Ming as the container industry’s ‘emission hero’ for all relevant CEI-covered trades in Q4 2022.

Xeneta said Yang Ming was the only major industry player to perform below the CEI performance baseline of 100 (set in Q1 2018) on all CEI routes.

The analysis is part of Xeneta’s recently launched Heroes and Villains Review, a campaign to assess the environmental performance of shippers in the world’s top 13 shipping industries.

The index covers 13 main routes for liners, tracks movements and calculates the emissions footprint. A baseline score of 100 is used to rank carriers in relation to the average of trade routes in early 2018.

According to CEI, Yang Ming found the industry’s best balance between sailing speed, fill factor and vessel size.

However, the segment saw mixed results, with some gains offset by poor performance as the weak market impacted fill factors, which in turn reduced overall efficiency.

The industry is moving in the right direction, but the mixed reviews show progress is far from easy. Overall, Xeneta Shipping Analyst Emily Stausbøll said,

“There is only one trade with a higher CEI for Q4 2022 than Q1 2018 and that is US East Coast to Northern Europe (a CEI of 108),” she commented. “However, we are seeing some setbacks from quarter to quarter – for example in trades from the Far East, where CEI readings deteriorated (increased) on four of the five main trades. To find out why, we need to consider general market conditions.”

The CEI shows that velocity has dropped on most trades in line with deteriorating market conditions. The best performers slowed down enough to compensate for lower fill factors, while those who didn’t slow down enough performed the worst.

From the corridors to the individual carriers, Stausbøll says there is a clear winner among the industry stars.

“Yang Ming has shown his commitment and ability when it comes to improving its environmental profile,” she said.

“All other airlines scored more than 100 points on at least one trade during the quarter, while Yang Ming’s highest score was 97.5 between Northern Europe and the Far East. At the other end of the scale, they scored an impressive 60.85 CEI for the Far East to US East Coast corridor.”

Source: News Network