According to Alphaliner, the container charter market has slowed over the past two weeks due to the traditional summer lull in the Northern Hemisphere, with many decision-makers on holiday. The number of fixtures has decreased, but charter rates remain stable or slightly rising for some ship classes due to a short supply of prompt tonnage, especially larger vessels.
Despite some deals not materializing and a trend towards fixing vessels for 2025 at discounted rates, the market remains cautious amid weakening spot cargo rates, with the SCFI falling for the second consecutive week. The influx of newbuilding capacities is gradually eroding market fundamentals, and a potential reduction in cargo demand could test the market’s resilience.
Alphaliner highlights
In the VLCS segment (7,500-13,000 TEU), only one fixture was recorded: CMA CGM chartered the 8,030 TEU MELBOURNE BRIDGE for up to three months at $100,000 per day. No new fixtures were reported in the LCS segment (5,300-7,499 TEU) for the second consecutive fortnight.
The classic Panamax segment (4,000-5,299 TEU) saw limited activity, with one deal: Matson extended the 4,872 TEU MATSON WAIKIKI for 36 months starting October 2025 at $26,500 per day. The 3,000-3,800 TEU segment remains busy, with Greek owner Danaos extending three vessels with COSCO SHIPPING Lines for 24 months starting Q1 2025 at $29,000 per day.
The 2,700-2,900 TEU segment continues to perform well, with TB BRIGHT CITY fixed for 22-24 months at $30,000 per day. Rates for 2,000-2,500 TEU vessels continue to rise, with OOCL extending SPIL NIRMALA for 24 months at $26,000 per day.
In the 1,500-1,900 TEU segment, shorter charters are commanding higher rates, with three ships fixed in Asia and West of Suez for 3-6 months at around $34,000-$35,000 per day. Charter rates in the 1,250-1,499 TEU segment have risen sharply, with the 1,436 TEU ‘Sainty 1400’ type fixed at $18,000 per day for 12 months.
Charter rates in the 1,000-1,249 TEU segment also continue to rise, averaging $14,500 per day for a 1,100 TEU unit. Sub-1,000 TEU sizes thrive, with Seaboard Marine fixing the 997 TEU CONTSHIP GEM at $16,000 per day for 12-14 months in the Caribbean, and Centrans extending a 698 TEU vessel for 4-5 months at $10,000 in Asia.
Source: Alphaliner
