Box Ships has confirmed details of its two latest fixtures, which the NYSE-listed company said shows improving freight rates for panamax containerships.
The panamax Box Trader (3,426 dwt, built 2010) commenced a timecharter to Zim Integrated Shipping Services on August 3 for a period of 50 to 115 days. The gross daily rate was fixed at $12,400.
The vessel was previously earning $8,000 daily on an eight-month timecharter to Hapag Lloyd, which expired in mid-May this year.
CMA CGM has extended its existing timecharter of CMA CGM Kingfish (5,095 dwt, built 2007) by five to eight months at a gross rate of $15,000 per day. The extension period, which commenced on August 15, will terminate between January and April 2016.
The boxship was earning $7,000 per day during the second quarter of 2014.
The two vessels were fixed at rates that were 46% and 63% higher than their previous charter contracts, which Michael Bodouroglou, chairman, president and CEO of Box Ships, said “illustrates the continued market improvement”.