News / Vessel charters get longer and more costly as carriers continue to hunt tonnage

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Containership non-operating owners (NOOs) have locked-in ocean carriers for long-period charters at vastly inflated daily hire rates, with the longest reported contract extending to 2039.

Shipping lines are taking on millions of dollars in forward charter commitments on vessels well beyond the delivery dates of large swathes of newbuild tonnage that will hit the seas in 2023.

A survey of the four publicly-listed NOOs by Alphaliner reveals expiring charters will now peak in 2024 – two years later than a similar analysis ...