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Russbroker Caribbean Market Review

No respite for container charter ships

Container Market
The container charter market has continued its lackluster performance for the last four months with a general downward trend throughout all feeder and intra-Americas vessel sizes.

The 1,100 teu sector experienced a decline of about 10 per cent in late summer. Since October a couple of smaller steps have brought rates down to mid-high US$ 6,000 levels. The decline happened without significant oversupply in the Caribbean, but some owners might have been scared by the large number of readily available vessels in the Mediterranean. As usual, the 1,300 teu category proved the most resilient in a weak market. Despite the occasional open candidate, charter rates remained in the high US$ 7,000 region.

Tonnage oversupply in the 1,700 teu segment disappeared towards the end of the year. The global supply overcapacity, however, caused rates to fall to around US$ 6,500.

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