Charterers Reclaim Market Control as Boxship Hire Rates Collapse

The containership charter market bubble appears to have burst, according to MSI’s Horizon report for September, reports the Loadstar.

“Container markets have finally ceased to walk on air, as both freight and time-charter markets have seen steep declines over the past month,” it notes.

It says the significant declines in spot freight rates had “started to be mirrored in time-charter rates in quite spectacular fashion”, with benchmark rates for some vessel sizes...

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