Threat to container charter market as carriers drift towards heavy losses

While container shipping lines face soaring operational costs, recent signs that they are preparing to suspend services in light of weakening demand suggest vessel charter rates could also come under pressure.

According to new analysis from Drewry Maritime Research, daily vessel charter rates have “fallen slightly over the past few weeks as carriers have reacted to the red ink by suspending a number of services, releasing some ships back to the open market, but they remain significantly higher than a year ago”.



Drewry’s figures show that, in the first quarter of this year, charter rates across all sizes were up 50% year on year and gained further in April and May “to approach heights last seen in mid-2015, with daily prices for classic panamax ships being fixed for around $13,000, according to broker reports”.

But while shipowners may have welcomed a stronger charter market, Drewry warned it also posed a considerable challenge to their business model......

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