Container market

Small beats large

This spring, the container charter market was not very active because many charterers fixed their ships, especially in the 1,000 teu segment, for 12 months or longer in the course of autumn last year.

Charter rates for standard 1,100 teu ships have moved sideways for the past few months in a corridor of mid to high US$ 7 thousands. Very economical 1,100 teu designs were able to earn a premium of about US$ 1,000 to US$ 1,500 on top of the rate paid for the standard 1,100 teu ship.

The 1,300 teu segment has felt the pressure of several spot ships in Asia. Owing to the low bunker price, positioning of ships to the Caribbean was a good argument and consequently rates dropped by about 10 per cent to levels in the low / mid US$ 8 thousands.

Read more: Russbroker Caribbean Market Review