News / NOOs batten down the hatches after two years of 'exceptional' earnings

© Chutima Sonma

Non-operating containership owners (NOOs) are seeing significant reductions in daily hire rates and charter durations for new fixtures, amid concerns of defaults on existing deals.

“The past year marked the peak of the container market and the exceptionally strong market conditions we saw over the last two years,” said Danaos CEO John Coustas.

Dr Coustas was commenting during the Greek shipowner’s Q4 and full-year results presentation yesterday, which saw the NOO double its net earnings for 2022, compared with the previous year, ...