- red hot charter market heating NOOs’ contracted revenue to boiling point
- the supercharged charter market is also the motivation for MSC aggressively buying any container vessel that appears on the market
Non-operating containership owners (NOOs) are locking in every vessel with an expiring charter in their fleet to new or extended multi-year fixtures at substantially higher daily rates says an article on The Loadstar.
High charter rates
Ocean carriers are being obliged to pay three or four times more for a charter extension, and for much longer periods. Greek NOO Danaos Corporation said it had entered into new charter agreements for periods of three to four years for ten, of its 71 vessels, that have charters due to expire next year.
NOO’s boost revenue
The new fixtures have boosted the NOO’s charter party contracted revenue by 21.5%, to over $2bn, and are for six 2,200 teu vessels, three of 3,400 teu and one 8,500 teu post-Panamax ship. Having achieved 100% coverage of operating days for this year, Danaos said the new charter agreements took its contracted coverage for 2022 to 89% and up to 60% for 2023.
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Source: The Loadstar