News / U-turn for ocean rates in car-carrier charter market as exports level off

Photo: VesselFinder

The car-carrier market is now at a crossroads, as charter rates have corrected substantially from the astronomical highs seen in 2023, according to shipbroking firm Clarksons.

Last year, daily charter rates for a 6,500-car equivalent unit (ceu) carrier peaked above $110,000 – today, that rate is around $95,000.

Clarksons analyst David Whittaker attributed the correction to a levelling-off of car exports from certain markets and PCTC newbuildings following high orders in 2022.

This was also mentioned in Hoegh Autoliners’ announcement of its five-year ...