News / Shipowners gain upper hand as charter market bites back at carriers

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Container lines are facing a new “perfect storm” of falling freight rates, higher fuel costs and a charter market turned in favour of shipowners.

For some time, ocean carriers have been able to adjust their capacity to the peaks and troughs of demand by hiring and off-hiring charter tonnage, which for MSC and CMA CGM, for example, represents around 66% and 62% respectively of their operating fleet.

Indeed, Maersk Line has often boasted of its charter market “toolbox” of short-term fixtures it ...