A Better Charter Market in 2016?
Shipowners that charter out container ships to liner operators are hopeful that 2016 will bring increased demand and higher charter rates for containerships, JoC reports.
Sentiment is changing in container shipping where, for the first time in five years, there are signs of a market turning to the benefit of owners.
Indicating hopes that a broad-based recovery in the boxship charter market is well under way, the charter rates for medium-sized container vessels continued to surge last week.
The ConTex market index went up by 3.2% or 14 points to 454 last week, this increase driven by improvements for ships of between 2,000 and 3,000 teu.
Geared 2,500 teu-type ships saw their rate assessments for 12 month periods marked up by almost 10% to just shy of USD9,200/day while the gearless 2,700 teu type logged an improvement of 4.5% for one year time charters.
Latest fixture lists show firm demand for geared 2,500 teu ships for a variety of trades to and from West Africa, the west coast of South America and intra-Asia.
The feeling is that the current recovery is underpinned by more solid fundamentals than five years ago when the market was buoyed by a combination of artificial stimulants, including quantitative easing, slowing speeds, delaying new buildings and cancellations.
Charterers quickly have to rethink their numbers to prevent vessels from being snatched from under their noses — something that the boxship market has not seen for several years.
