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Markets > Market Reports > Container > Activity remains sparse in the boxship timecharter market Archive:
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Activity remains sparse in the boxship timecharter market

14 December 2012

Activity in the containership timecharter market remained relatively sparse in November, with most of the action ‘hand to mouth’ and depressingly short-termist. The benchmark 6-12 month rate for a 2,500 TEU geared containership declined by 3.8% over the month to $6,250/day, while the benchmark 6-12 month rate for a 1,000 TEU Handy vessel slipped to $5,200/day.

Rates in the larger size sectors declined even further, with the Clarkson Deep Sea Index falling to 22 points in November. The benchmark 6-12 month timecharter rate for a 3,500 TEU Panamax fell to $6,500/day – the 1H 2011 average of $19,550/day is now but a distant memory.

There was, however, increased interest in Post-Panamax relets, although most carriers look to be holding on to their deep-sea portfolios even if they have to take some strings out of service during the quieter winter period. Indeed the degree of currently idle tonnage is ominous news for charter owners, with significant reactivations unlikely until we clear the holiday periods in both the West and Asia.

© Clarkson Research Services Limited 2014