Brokers Lorentzen & Stemoco report that charter rates for boxships in the 5,500 to 7,000 teu range have more than doubled in the past 12 months. The sector has benefitted from the low tonnage availability in the market, a situation exacerbated by a large swathe of ships heading for scrubber retrofits.
“From the beginning of 2019 till today, rates have more than doubled in this segment,” Lorentzen & Stemoco stated in its latest weekly report.
Analysts at Alphaliner were able to add dollar figures to this charter jump. Rates for 5,500 teu ships have leapt from $8,000 to $10,000 a day back in January 2019 to surpass $20,000 over the course of the year.
“The outlook for 2020 remains bullish,” Alphaliner stated in its latest weekly report, adding: “A positive point is the absence of newbuildings in this size range for 2020 delivery and only two orders in the wider 4,000-10,000 teu bracket.”