Idle tonnage

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.

Decline in spot freight rates

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...

https://mfame.guru/charterers-reclaim-market-control-as-boxship-hire-rates-collapse/

Carriers ‘scraping the barrel’ for tonnage as charter supply squeeze goes on

Carriers are “scraping the bottom of the barrel” for available tonnage, as the percentage of the global containership fleet commercially idle and not in dry dock has fallen to just 0.8%.
And according to the latest Alphaliner survey, the severe shortage of open tonnage is obliging potential charterers to significantly streamline the assessment process of candidates.
The consultant counted only 56 container vessels, for a capacity of 205,000 teu, as inactive, which …

The post Carriers ‘scraping...

https://theloadstar.com/carriers-scraping-the-barrel-for-tonnage-as-charter-supply-squeeze-goes-on/

Charter market still soaring: ‘We’ll beat any rate to secure a panamax’

Containership charter rates continue to soar against a backdrop of tight supply across most sectors.
This is reflected in the latest idle tonnage report from Alphaliner showing 23 fewer ships (for 123,462 teu) in the idle fleet.
This is now down to 140 vessels, for 520,831 teu, representing just 2.2% of the global fleet.
The 23 includes 14 vessels undergoing scrubber retrofits “to fill sailing gaps in regular services or perform extra sailings” …

The post Charter market still soaring: ‘We’ll...

https://theloadstar.com/charter-market-still-soaring-well-beat-any-rate-to-secure-a-panamax/

Charter market still soaring, with ‘owners seeing dollar signs now’

A further 65 vessels, for a total of 155,350 teu, have found employment in the past two weeks, driving charter rates to new highs.
According to the latest Alphaliner idle tonnage report,  just 163 containerships were idled as at 14 September, which includes 21 are out of service for scrubber retrofits.
At 644,293 teu – 2.7% of the global containership fleet – idle tonnage has slumped from around 1m teu just a …

The post Charter market still soaring, with ‘owners seeing dollar signs now’ appeared...

https://theloadstar.com/charter-market-still-soaring-with-owners-seeing-dollar-signs-now/

Shipowners back in the driving seat, with brisk business in the charter market

Containership brokers are reporting “brisk business”, although owners are reluctant to fix for longer periods against rising daily hire rates.
Reflecting the high demand for tonnage, Alphaliner’s idle fleet assessment has recorded a further 62 vessels with some 300,000 teu having found employment in the past two weeks.
The current 313 ships with 1.55m teu in hot or cold lay-up, representing 6.6% of the global fleet, is a vast improvement on the …

The post Shipowners back in the driving seat,...

https://theloadstar.com/shipowners-back-in-the-driving-seat-with-brisk-business-in-the-charter-market/

Box ship charter market bounces back as idled vessels are recalled to duty

Over 120 idled containerships have been reactivated since 22 June, according to Alphaliner, as green shoots of a peak season slowly emerge.
As at 6 July, the consultant recorded an inactive fleet of 375 vessels with a capacity of 1.85m teu, significantly down from the 453 ships for 2.32m teu reported to be in hot and cold lay-up just two weeks earlier.
“The inactive fleet capacity level has dropped to below the …

The post Box ship charter market bounces back as idled vessels are recalled to duty

https://theloadstar.com/boxship-charter-market-bounces-back-as-idled-vessels-are-recalled-to-duty/

Containership charter market starts on the long road to recovery

The impact of Covid-19 on the containership charter market has been significant with daily hire rates falling by up to 50%, according to an Alphaliner analysis.
But the consultant says it is not all bad news for boxship owners, with some green shoots beginning to emerge as carriers “progressively resume suspended services and reinstate some sailings planned to be blanked.
“Charter rates fell by up to 45% for standard units of 8,500 …

The post Containership charter market starts on the long road...

https://theloadstar.com/containership-charter-market-starts-on-the-long-road-to-recovery/

More blanked voyages certain on transpacific and east-west trades

South Korean carrier HMM’s latest ULCV, the HMM Algeciras, which at 23,964 teu is the world’s largest boxship, made its maiden call at Hamburg yesterday, exchanging some 13,600 teu in a single call.
The fate of the vessel remains unclear however, as it has been deployed on THE Alliance’s Asian-North Europe FE4 service, which is shortly to be merged with the FE2 string; alliance members rationalising capacity in the wake of …

The post More blanked voyages certain on transpacific and east-west...

https://theloadstar.com/more-blanked-voyages-certain-on-transpacific-and-east-west-trades/

Idle tonnage weighs heavy on HMM as global inactive box fleet hits new high

One-third of HMM’s container fleet is currently idled, by far the highest percentage of inactive ships of any of its liner peers, according to Alphaliner.
And the South Korean carrier is scheduled receive some 400,000 teu of newbuild tonnage over the next 12 months, but it has limited scope to return surplus tonnage to owners due to the length of its time charters.
The global idle containership fleet reached an all-time high …

The post Idle tonnage weighs heavy on HMM as global inactive box...

https://theloadstar.com/idle-tonnage-weighs-heavy-on-hmm-as-global-inactive-box-fleet-hits-new-high/

Scrapyards set for new wave of box ship demolition as idle fleet grows

Demolition markets in the Indian subcontinent have now largely reopened and are preparing for a new wave of containerships for scrapping.
According to London-based shipbroker Braemar ACM, just 14 have been demolished so far this year, compared with 58 ships by the same time in 2019.
However, due to the pandemic, there have been reports of up to 20 ships having been sold for scrap in the interim and now await the …

The post Scrapyards set for new wave of box ship demolition as idle fleet grows...

https://theloadstar.com/scrapyards-set-for-new-wave-of-box-ship-demolition-as-idle-fleet-grows/

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