News / Maersk the most active carrier in a 'hectic' charter market

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Maersk was reported to be “the most active operator” in the containership charter market last week, as ocean carriers shored up their networks with additional tonnage to mitigate the effect of longer transit times from Asia via the Cape of Good Hope.

“It was a very interesting and somewhat hectic week in the container market, as all of a sudden we noted a real scramble for what prompt tonnage was available in virtually all segments and regions,” said Copenhagen-based MB Shipbrokers.

It said there was “clear upward momentum in time-charter rates across the board”, and shipowners were either looking to charter out their vessels for as long as possible, or fix “at a premium rate for short durations”.

Alphaliner reported it was “already aware of at least four vessels fixed either as ‘Red Sea traders’ at premium rates, or as extra loaders from Asia to Europe”.

It added: “More such fixtures will likely follow in the coming days.”

Specifically, it said that the hitherto depressed sub-1,000 teu sector could see a boost from the disruption in the Mediterranean region, as some carriers begin to organise relay services connecting the more remote ports.

Indeed, a Hamburg-based broker told The Loadstar he had received “numerous enquiries” for tonnage of all sizes from carriers in the past week.

“It seems some lines are looking to offer extra loaders from China in the coming weeks to take advantage of the higher freight rates in the market,” said the broker.

London-based shipbroker Braemar said there had been a “further improvement” in charter activity for all types of ships, as carriers looked to take advantage of the much higher freight rates. It said: “Various prompt vessels across all sizes and regions are seeing increasing interest and charter rates as well as periods are witnessing a firming trend.

“Considering the rather bleak market outlook just before these events, it feels like some relief for operators to improve the supply balance and an opportunity to reverse the descending freight markets as seen during the second half of 2023.”

The shipbroker recorded no less than six fixtures or extensions agreed by Maersk in the past seven days as the carrier looked to supplement its fleet. They included the 2000-built, 5,936 teu Tasman for 10-12 months from March, at a daily hire rate of $21,500.

And also in March, Maersk will also be taking the 2008-built 4,506 teu panamax Dyros at $17,500 a day for 12 months to deploy in the Mediterranean.

Moreover, with a much smaller orderbook than most of its peers, and with its 2M alliance with MSC coming to an end later in the year, the Danish carrier will need to ensure it has sufficient tonnage to cover its commitments should the Red Sea crisis continue and longer transit times have to be baked into schedules.