News / Gemini partners on the hunt for scarce chartered tonnage

Pacific International Lines (PIL) has chartered one of its ships to Hapag-Lloyd for three years, as the Gemini Cooperation’s tonnage predicament continues.

Clarksons said the 2009-built 4,211 teu Kota Layang has been fixed to the German liner for $35,500 a day for 36-38 months, and EconDB shows Singapore-based PIL has deployed the ship on its China-Vietnam-India service.

High charter rates, seemingly incongruent with downward pressure on freight rates, are driving operators to let out surplus vessels. Maersk, ...