News / Tough times ahead for the Panamax container shipping charter market

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Despite a record number of Panamax ships making their final voyages to the beaches of Asian shipbreakers last year, rampant containership cascading has forced the vessel sector into the wilderness of short period charters of three months or less at sub-economic daily hire rates – often made worse by the requirement to reposition the vessel prior to the charter commencing.

Indeed, more than 50 ships of 3,000-5,000 teu – equating to over 200,000 teu of capacity and representing half of all ...