The already tight charter market for boxships is predicted to get another big boost in the next month as a raft of new services launch.
“In the next six weeks, a whole slew of new service launches which will help mop up container ship newbuildings and give a further boost to the charter market, as more than 60 vessels with a total capacity of 360,000 teu are needed to populate the new loops,” Alphaliner reported in its latest weekly report.
While the new services are likely to boost charter fees, Alphaliner predicted the expected increase in overall slot capacity from new service launches and capacity upgrades on existing services will put significant pressure on freight rates.
The Shanghai Containerised Freight Index (SCFI) slumped to a new 18-month low on March 16. The composite index has lost a quarter of its value since February.
The most significant additions coming up will be on the Far East – West Coast South America and Far East – Caribbean routes, according to Alphaliner.