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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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