News / Hanjin payment defaults add to charter rate misery in a depressed sector

© Ehasdemir

Containership charter rates are stubbornly stuck at historically low levels across most sizes against a backdrop of weak demand, with brokers this week describing fixing activity as “very subdued”.

In addition, the sudden collapse of Hanjin Shipping at the end of August added to industry woes, with a number of ships returned early to owners after charter party defaults.

According to Alphaliner’s latest idle fleet update, 24 ships operated by the South Korean carrier, with a total capacity of 152,500 teu, had ...