Short-term containership charter rates have plunged by up to 40% since the beginning of the year, as ocean carriers rush to off-hire surplus tonnage.
Shipowners are again coming under pressure to adjust charter party daily hire rates for long-term fixtures, in a repeat of the abnormal discounts seen before the 2016 Hanjin bankruptcy.
“Liner companies have addressed the drop in volumes brought on by the pandemic by cancelling sailings and idling capacity. …
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https://theloadstar.com/we-are-well-insulated-from-this-charter-market-crash-says-danaos-ceo/