Containership charter market feels the ripples from trade tensions
The charter market for containerships is diverging in response to the many pressures on supply ...
The Danaos-owned CMA CGM Rabelais © Atgimages
By Mike Wackett
Greek containership owner Danaos has painted a gloomy picture for the box ship charter market in 2018.
It says it does not expect a “material improvement in the market environment”.
Danaos is still reeling from the bankruptcy of Hanjin Shipping last September when charter party agreements for 13 vessels ended with several years remaining on the contracts.
As a consequence, Danaos remains in breach of financial covenants on mortgages with RBS and other banks for loans maturing at the end of next year.
Although the ...
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