According to an international financial institution report, container shipping in Vietnam and Cambodia had the shortest port turnaround times in Asean in June 2022, with both countries getting an average score of 0.9 days.
Among other Asean members, Thailand had the second-fastest turnaround time of one day, followed by Malaysia and Singapore at 1.2 days, the Philippines at 1.3 days, Indonesia at 1.8 days, and Myanmar at two days.
According to a statement from the bank, digitalization has reduced port delays in emerging economies by up to 70% compared to those in developed nations.
A senior bank economist noted that the worst delays happen at seaports, airports, and multimodal facilities, although shipping takes up most of the time.
She noted that “policies aimed at these facilities can help improve reliability.”
Singapore ranked first, both within Asean and worldwide, with 4.3 points. It was followed by Malaysia (3.6 points), Thailand (3.5 points), the Philippines and Vietnam (both 3.3 points), and Indonesia (3.0 points). There was no rating for Myanmar.
The bank said logistics services were “broadly resilient” for best and worst performers worldwide in the face of challenges such as Covid-19.
According to the report, the average overall score in the 2023 LPI was “roughly the same as in the last survey in 2018” despite the Covid-19 pandemic-induced disruption to shipping and the global supply chain problem.
Six factors make up the LPI: the effectiveness of customs and border management clearance, the standard of trade and transportation infrastructure, the simplicity of arranging competitively priced shipments, the skill and quality of logistics services, the capacity to track and trace shipments, and the frequency of on-time deliveries.
