Boxship charter rates hit new highs

3 min readJan 26, 2022

Containership charter rates are storming to new record highs with demand for tonnage described as frantic.

“All sizes are seeing rates firming strongly, with, in some cases, staggering figures agreed, well above earlier benchmarks,” Alphaliner noted in its most recent weekly report. Illustrating this, Alphaliner pointed out that 3,500 teu ships are now obtaining $60,000 per day for 36 months employments, up from $45,000 only a few weeks ago.

The same trend is observed for slightly smaller units of 2,700 teu, where the new benchmark for similar periods is now close to $50,000 for standard units, up from $42,000 at the beginning of the year.

Sending rates skyward was the Pasha Hawaii raid, reported by Splash earlier this week, for seven charters for ships ranging in size from 2,100 to 3,500 teu with most taken on a three-year basis.

The Alphaliner Charter Rate index has hit a new historic high this week at 476 points.

More long-term fixtures are being concluded with a de-escalating structure

“There is a growing trend towards forward fixing far into the future, with some vessels extended or fixed nearly one year before being delivered. This development highlights charterers’ concern that they might end up without any vessel at all if they do not secure tonnage now,” Alphaliner noted.

“Tonnage supply is short for the rest of the year and charterers will have to consider smaller tonnage than what they were originally looking for,” stated the latest report from the compilers of the New ConTex chartering index.

Alphaliner also gave details of an increasing number of long-term fixtures concluded with a de-escalating structure with charterers paying a higher rate in the first year, with the figure gradually decreasing for the duration of the contract. As an example, Alphaliner highlighted Maersk’s recent chartering of the Euroseas-owned 2,788 teu EM Astoria. Taken for 36 to 38 months, Maersk is paying $65,000 for the first year, then $50,000 for the second year and $20,000 for the remaining 12 to 14 months, resulting in an average daily rate of about $45,000 for the duration of the charter.

Ref: splash247.com

Share this post:

Share on linkedin

LinkedIn

Share on facebook

Facebook

Share on twitter

Twitter

Share on pinterest

Pinterest

Share on tumblr

Tumblr

AMG Logistics is a Lagos-based TRACE certified logistics company. Our services include Freight Forwarding, Customs Clearance, Trucking, Distribution, and Warehousing within Nigeria.

CONTACT US

Tel: +234 909 199 9866

sales.nigeria@amglogistics.com
+234 909 199 9866

customer.services@amglogistics.com
+234 909 199 9841

cs.abuja@amglogistics.com
+234 909 199 9805

documentation.department@amglogistics.com
+234 909 199 9813

AMG Logistics Locations

HEAD OFFICE
7c Creek Road
Apapa
Lagos

ABUJA BRANCH
B3 ground floor
84 Keane Nkrumah Street
Asokoro Business & Lifestyle centre
Abuja

PORT HARCOURT BRANCH
NAMA Admin Building
Port Harcourt International Airport
Omagwa
River State

LET US CONTACT YOU