News / Charter market at a crossroads, as shipping rate collapse makes owners 'nervous'

© Thatsaphon Saengnarongrat |

The collapse of ocean freight rates from historical highs is, inevitably, feeding into the containership charter market, bringing fears of charter party defaults by highly exposed small and medium-sized carriers.

Non-operating containership owners are keeping a close watch on the load factors of their vessels to try to identify any trading difficulties, but as yet there are no reports of any serious attempts to renegotiate daily hire or time periods.

Nevertheless, any appetite for long-term charters in some sectors is, according to ...