News / Tonnage crunch continues, pushing carriers to suspend more services

Credit Pasha Hawaii

Ad-hoc carriers prepared to pay colossal daily rates for three-month hire of panamax containerships have disrupted the charter market, obliging liner companies to raid services for tonnage to start new loops.

The workhorse 4,000-5,000 teu ships – destined for the scrapyards just a few years ago – have a new lease of life, due to a dearth of open tonnage and a huge spike in global freight rates that reset the economy-of-scale ship selection criteria across tradelanes.

US niche logistics operator Pasha ...