- Container ship charter rates are now over twice as high as they were 16 years ago.
- Charter rates for the busiest marine sector have more than quadrupled year-to-date and are now 128% higher than the previous peak in 2005.
A recent news article published in the Splash 247 by Sam Chambers states that boxship charter rates now stand 128% above previous 2005 peak.
Current market may resemble a bubble-like environment
1,700 teu ships are now able to command $51,000 a day for six -to 12-month contracts, while the rate for a 4,400 teu ship is about to crack the $100,000 a day mark, sitting on $97,500 a day with ships in the 6,800 teu range pocketing $111,500 per day.
“In its complicated simplicity the current market may resemble a bubble-like environment but the demand for more radical chartering solutions is still there and the inherent difficulties of the global supply chain guarantee that it may be so well into 2022,” creators of Germany NewContex chartering index noted in a weekly report published on Friday while discussing the raft of big retailers paying “colourful” sums to charter in boxships over the summer.
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Source: Splash 247
