News / Carriers becoming cautious of 'gung-ho' long-term box ship chartering

© Igor Nikolayev |

Ocean carriers are confident they can keep freight rates at elevated levels at least for the next year, enabling them to extend vessel charters with containership owners for longer periods at much higher daily hire rates.

However, some carrier vessel procurement teams, eager to lock-in tonnage in the face of stiff competition from rival lines, are being blocked by management from committing to charters longer than 36 months.

“Some liner operators have a reluctance to accept commitments beyond three years,” noted Maersk ...