News / Red hot charter market heating NOOs' contracted revenue to boiling point

Non-operating containership owners (NOOs) are locking-in every vessel with an expiring charter in their fleet to new or extended multi-year fixtures at substantially higher daily rates.

Ocean carriers are being obliged to pay three or four times more for a charter extension, and for much longer periods.

Greek NOO Danaos Corporation said it had entered into new charter agreements for periods of three to four years for ten, of its 71 vessels, that have charters due to expire next year.

Having achieved 100% ...