Charter parties Archives - The Loadstar

Idle containership fleet grows a little – but emissions are soaring

Charlie Bartlett technology editor — Thu, 31 Oct 2024 12:46:36 +0000

The end of the early peak season and a truncated US east coast port strike has led to a lull in active tonnage in the global liner fleet, with Alphaliner pointing to an increase in the number of idle vessels over the past fortnight, to a total 245,000 teu.
“Alphaliner’s latest fortnightly survey, on 21 October, tallied 71 ships with a total capacity of more than 245,000 teu as commercially idle,” ...

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Anyone got a ship for an east-west service? Carriers scramble for tonnage

Charlotte Goldstone — Thu, 13 Jun 2024 12:45:00 +0000

Ocean carriers are “scrambling for any tonnage” to provide additional capacity on east-west services, but the tonnage providers are “taking advantage” as the cost of chartering vessels has recently risen rapidly.
On Tuesday, French carrier CMA CGM announced its French Peak Service, which will see seven additional sailings of 7,000 teu vessels from Asia to North Europe and the Mediterranean.
They will start with the 30 June departure of the 6,350 teu ...

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Zim – genius or lucky – has no charter market exposure

Gavin van Marle — Wed, 22 May 2024 11:03:07 +0000

Zim’s decision, in the midst of the pandemic, to upgrade its fleet capacity via the long-term (10 years-plus) charters of a series of newbuild vessels is beginning to look like a masterstroke.
Perhaps it was vision, perhaps it was merely good luck… whatever, the fortuitous/visionary strategy to reduce its exposure to the time-charter market through the one way that didn’t involve actual ownership of the ships will see its risk exposure ...

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Zim’s charter parties and the bunfight to come

Gavin van Marle — Fri, 22 Mar 2024 12:28:29 +0000

Shortly before its 2021 listing on the New York Stock Exchange, Premium had a look at Zim’s IPO prospectus and sketched an analysis of the Israeli container line in which we highlighted its charter-heavy fleet composition as a major factor in its success, or otherwise.
Two years and one pandemic on and it is once again becoming a central focus. Clearly, 2024 is going to be a rum year – it ...

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Box lines being forced into costlier, longer-duration vessel charters

Mike Wackett — Mon, 12 Feb 2024 13:09:19 +0000

Containership owners are playing hard ball with liner operators desperate to plug holes in their networks as a result of the Red Sea crisis, demanding increased daily hire rates and insisting on longer charter periods.
However, ocean carriers risk committing to charter parties well beyond the duration of the current network disruptions, as that will exacerbate the oversupply challenges they already face as a consequence of their excessive ordering of new ...

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Charter market gets a boost as carriers look to plug holes in networks

Mike Wackett — Tue, 06 Feb 2024 13:14:56 +0000

Enforced schedule changes, with ships diverted via the Cape of Good Hope due to Houthi attacks in the Red Sea, are prompting carriers to launch more hub & spoke-type services to plug the gaps in their networks.
This is particularly the case for services to and from the Mediterranean, the most affected by the omission of Suez Canal transits. Moreover, weekly transhipment links have also become a viable option for carriers ...

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Maersk the most active carrier in a ‘hectic’ charter market

Mike Wackett — Mon, 15 Jan 2024 13:25:22 +0000

Maersk was reported to be “the most active operator” in the containership charter market last week, as ocean carriers shored up their networks with additional tonnage to mitigate the effect of longer transit times from Asia via the Cape of Good Hope.
“It was a very interesting and somewhat hectic week in the container market, as all of a sudden we noted a real scramble for what prompt tonnage was available ...

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Demand prospects for new year see box carriers back in charter market

Mike Wackett — Tue, 12 Dec 2023 13:39:26 +0000

Better than expected forward demand prospects across major and secondary tradelanes is encouraging ocean carriers back into the charter market to snap up any open tonnage.
However, according to Maersk Broker, most of the larger vessels remain ‘sold out’, with tonnage only becoming available from next spring, thereby underpinning daily hire rates.
Nonetheless, the broker reported “another fairly active week” on the containership charter market, also noted by London-based shipbroker Braemar.
It said ...

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Maersk sails into the charter market as it prepares for independence

Mike Wackett — Thu, 30 Nov 2023 13:32:16 +0000

Maersk is preparing for an early termination of its 2M partnership with MSC by reinforcing its fleet, most recently fixing two 13,100 teu charters.
The carrier has agreed with non-operating shipowner Danaos to take charge of 2012-built 13,082 teu sister ships Hyundai Ambition and Hyundai Speed for 34 months from next June, at a daily hire rate of $51,500.
The vessels were originally chartered to South Korean carrier Hyundai Merchant Marine (HMM) ...

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Danaos enjoys strong Q3, but sees uncertainty as liners look to cut charter costs

Mike Wackett — Wed, 15 Nov 2023 13:39:36 +0000

Greece-based non-operating containership owner (NOO) Danaos recorded another strong result in the third quarter, posting a net profit of $143m from turnover of $239m.
And, in contrast to its ocean carrier customers, the short- and mid-term outlook for Danaos remains profitable, underpinned by its portfolio of unexpired long-term charters.
However, the NOO sees “a lot of uncertainty, going forward” in the container markets, which perhaps explains why the company has recently diversified ...

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