Charter parties

Container charter market goes ‘from boom to bust’ in four months

Ocean carriers are scrambling to cut costs as the demand for liner services continues to plummet, and the off-hiring of chartered tonnage is top of their agenda.
Hapag-Lloyd chief executive Rolf Habben Jansen said yesterday that the carrier would return a further “small double-digit number” of ships from the 129 it has on time charters.
Representing 40% of its fleet capacity, Hapag-Lloyd’s chartered fleet is relatively low compared with that of several …

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https://theloadstar.com/container-charter-market-goes-from-boom-to-bust-in-four-months/

Container charter market goes ‘from one extreme to the other’ as enquiries dry up

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.
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.
Owned tonnage is being idled at ports around the world and carriers …

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https://theloadstar.com/container-charter-market-goes-from-one-extreme-to-the-other-as-enquiries-dry-up/

Smoother sailing for owners of smaller containerships as charter rates rise

Owners of mid- to small-sized container vessels remain optimistic, despite the impact of trade wars and forecasts of a global deceleration in box volumes,
With an almost empty orderbook in the smaller containership sectors, owners are confident they can continue to achieve daily hire rate increases for extensions or new charters.
Speaking to Bloomberg radio today, Global Ship Lease (GSL) chief executive Ian Webber said that although trade wars and tariffs were …

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Investment in scrubbers starting to pay off as carriers are offered ‘double’ rates

Ships leaving yards after scrubber retrofits are being held at anchor to await open slots on service networks and may face further idling due to soft demand forecasts, said Alphaliner.
However, given the substantial fuel cost saving achievable by these vessels, still able to bunker with HFO (heavy fuel oil), against the more-expensive LSFO (low-sulphur fuel oil) that ships without scrubber technology must consume, carriers’ ship planners want to redeploy them …

The post Investment in scrubbers...

https://theloadstar.com/investment-in-scrubbers-starting-to-pay-off-as-carriers-are-offered-double-rates/

Box trade demand will finally surpass supply growth in 2020, says Danaos

Athens-based non-operating containership owner Danaos Corporation said today it expected container trade demand would surpass supply growth next year.
During its third-quarter results presentation, chief executive John Coustas was bullish on the sector’s outlook, attributing the improving prospects to a combination of low orderbooks and the indirect windfalls for shipowners from the IMO’s 0.5% sulphur cap on marine fuel that comes into effect on 1 January.
“We are aligned with the shipping …

The...

https://theloadstar.com/box-trade-demand-will-finally-surpass-supply-growth-in-2020-says-danaos/

Containership charter rate boom peters out as carriers sail into slack season

The scrubber-charged spike in containership charter rates could be coming to an end, according to Alphaliner.
Ocean carriers are battening down the hatches on operating costs to mitigate the impact of declining freight rates, added the consultant.
It said average daily charter hire rates had soared by 40% since January, while during the same period freight rates hadcollapsed – the yardstick Shanghai Containerized Freight Index (SCFI) slumping by 25%.
“The two markets’ sharply …

The post Container...

https://theloadstar.com/containership-charter-rate-boom-peters-out-as-carriers-sail-into-slack-season/

MPC Container Ships expects second-half scrubber boost to charter rates after posting interim loss

An IMO 2020-driven recovery in time charter rates for container tonnage has only recently filtered through to the smallest sized segment according to feeder ship owner MPC Container Ships.
This Oslo-listed shipowner posted second-quarter results revealing a net loss of $4.4m for a total loss of $9.6m in the first six months of the year.
The negative result came from a total revenue of $58m in the first half, earned from MPC’s …

The post MPC Container Ships expects second-half scrubber boost to...

https://theloadstar.com/mpc-container-ships-expects-second-half-scrubber-boost-to-charter-rates-after-posting-interim-loss/

Carriers looking to fix charters long-term as IMO 2020 squeezes ship supply

Non-operating containership owners Seaspan and Danaos have reported “positive supply side-effects” from the IMO’s 0.5% sulphur cap on vessels, coming into force next January.
Indeed, a zero orderbook for container tonnage under 10,000 teu, combined with more ships being taken out of service for scrubber installation, has resulted in a significant tightening of supply in the boxship charter market.
The world’s largest independent owner, Seaspan, said it expected scrubber programmes to run …

The...

https://theloadstar.com/carriers-looking-to-fix-charters-long-term-as-imo-2020-squeezes-ship-supply/

Vessels for charter ‘as rare as hens’ teeth’ – and with daily rates to match

‘A perfect storm’ of ships being taken out of service for scrubber installation and a dearth of new tonnage in all but the very biggest of container vessels has resulted in brokers reporting panamax and other smaller sectors as ‘sold out’.
Charterers are now very much on the back foot and several ocean carriers at any one time can be chasing a suitable vessel that appears ‘open’ on their screens.
One London …

The post Vessels for charter ‘as rare as hens’ teeth’ – and with daily rates to match...

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Bullish Danaos reports hike in revenue and healthier charter market for larger ships

Greek non-operating containership owner Danaos Corporation has reported a “significant improvement” in the charter market for vessels over 5,500 teu.
It also noted a “slight” improvement for smaller ships.
Danaos owns a fleet of 55 containerships, mostly on long-term charters to ocean carriers, ranging in size from 2,200 teu to 13,100 teu.
Net income in the first quarter was $38.6m, compared with $28m in Q1 2018, mostly attributed to a $7.7m decrease in …

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