No Vessels To Carry Tonnage, Charter Market Suffers Extreme Condition

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The coronavirus is impacting the boxship market like never before, reports the LoadStar.

With the major east-west liner tradelanes grinding to a halt due to the impact of coronavirus on manufacturing and transport, in China the box ship charter market is starting to feel the pinch.

Blank Sailing Increase

According to the latest Alphaliner review, ocean carriers are endeavouring to redeliver as much tonnage as possible to owners as the number of blanked sailings increases daily.

Carriers Idle at Ports

Owned tonnage is being idled at ports around the world and carriers are being obliged to anchor some part-loaded ships in China

No Vessels Available

vessel availability enquiries had “virtually dried up”. He added: “It has gone from one extreme to the other in the past few days Uncertainty is denting confidence among owners of charter market tonnage who are blanking sailings”. Looking ahead, he said that pent-up demand would ultimately lead to a tight market.

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Source: The LoadStar

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