Financial Ports

Port Delays Cost Shipping $6.9bn—Why Automation Can’t Wait

CLAVE 1 / 4Port delays cost the shipping industry $6.9 billion in demurrage and detention fees between 2020 and 2022.

CLAVE 2 / 4Median waiting time for cargo ships outside ports surged from 8.7 hours in 2023 to 13.4 hours in 2024.

CLAVE 3 / 4Dry bulk carriers had the worst turnaround time at 2.7 days in 2024—nearly triple the container ship average.

CLAVE 4 / 4Automated ports like Busan cut turnaround times by 49% using real-time data-sharing systems.

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