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Container ship charter rates sank to multiyear lows in June 2020 as a result of bleak carrier outlook and premature returning of chartered vessels as the coronavirus outbreak presented a major demand risk. But as community lockdowns and social distancing unexpectedly boosted consumer spending on goods, charter rates rebounded and broke through to fresh all-time highs at the start of August, Harper Petersen & Co. data showed. Six- to 12-month time-charter rates for a ship with a capacity of 8,500 twenty-foot equivalent units registered $105,000/d Aug. 2, a jump of more than 425% from the year-ago assessment of $20,000/d. Short-term fixtures, where rates are highest, do not make up the bulk of fixturing activity. Just 5% of 2021’s container ship fixtures to date have been for periods of three months or less, London-based shipbroker Braemar ACM said. ....
Container ship long-term charter rates climb to record highs amid vessel shortages hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Container ship charter rates continue upward momentum as tonnage markets run dry Container vessel time charter rates have risen to 10-year highs amid an ongoing bull run in container freight markets, according to an index published by German ship broker Harper Petersen & Co. Time charter rates for a ship with a capacity of 8,500 twenty-foot equivalent units (TEU) registered at $54,000/d on April 23, the highest assessment in more than 10 years. This represents a 151% increase over the year-ago assessment, when the chartering cost for an 8,500 TEU ship was $21,500/d. Charter rates hit multi-year lows in 2020 as bleak carrier outlook brought on by the coronavirus pandemic began to be felt. At that time, many carriers opted to return chartered vessels early in the hopes of recouping some of the leasing costs, ballooning the global idle fleet. ....