Comment / Danaos – what goes boo-hoo to a 'NOO'?

ID 79693092 © Palinchak | Dreamstime.com

The non-operating shipowners (NOOs) have been enjoying a bull run for quite some time now.

In fact, the box rate downturn between the end of the Covid and the first Houthi attack on shipping was not long enough to inflict any lasting damage on balance sheets and the Cape of Good Hope diversions could hardly be a more beneficial environment for business.

’Astonishing’

Alphaliner described it as astonishing in its fortnightly charter market commentary earlier this month (click to expand the table below):

“The ...