News / Box lines slam on the brakes in a charter market feeling the pain

© Chanchai Duangdoosan

Along with pausing recruitment and across-the-board budget tightening, ocean carriers are halting the charter of tonnage.

One carrier contact told The Loadstar today a block on fixing charter ships – along with procuring ad-hoc feeders for relay operations – had “come from the top”.

“Even previously agreed extensions for charters where we don’t have a replacement ship, have to be referred up,” he added.

With the second-quarter reporting season about to get under way, container lines will be recording freight revenues in freefall, ...