Boxship charter rates hit highs not seen since just before Lehman Brothers collapsed

Charter rates for box ships now stand at highs not seen since the summer before Lehman Brothers collapsed, according to new data from Clarksons Research. 

Overall, the Clarksons Containership Charter Rate Index now stands at 94 points, having risen by 22% in the last eight weeks, representing the highest level since July 2008.

Old panamaxes – the 3,500 teu class are now trading at $20,500 a day, more than double the 10-year average. Even geared 1,000 teu ships are able to command $9,000 a day in today’s hot container shipping market. 

“Firm gains have been driven by a rapid return in box volumes since the summer, as well as the impact of logistical disruption which has driven box freight rates sharply upwards to record highs in recent weeks,” Clarksons Research noted in a report out this week.