News / Carriers with 'money to burn' will pay 'whatever it takes' to secure chartered tonnage

© Xin Hua

The major ocean carriers, expected to report huge profits for Q4, have “money to burn” and aim to outbid their smaller, less-profitable rivals, to secure the ships they target.

They are expecting the current liner bull market to continue well into the second quarter of next year, based on their recent enquiries into the charter market.

“Not only are the liners prepared to fix long-term at whatever-it-takes-rates on any available tonnage, but we have a number of enquiries now for ships not due ...