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Latest From Charter rates
With larger tonnage in demand to cover scrubber retrofits, a two-tier charter market has been created, with vessels in excess of 6,000 teu commanding increasing rates as smaller ships lose ground
Owners will have to withdraw transpacific capacity if proposed tariffs come into effect, leaving chartered tonnage due for expiry in 2019 heavily exposed, according to MSI analysts Daniel Richards
Costamare’s latest earnings report highlights the lift-off in post-panamax boxship rates in recent weeks with several stand-out fixtures amid good fundamentals of low supply and strong demand
The long-term charter at undisclosed rates comes with two optional extension periods of six years each, which GasLog says will reduce risk and improve cash flow visibility
India could be willing to cut all imports of Venezuelan crude to satisfy US sanctions in return for further waivers on importing Iranian crude
The acid test for the charter market will be its ability to absorb some of the idle ships holding back rate development
Shipments from Malaysia to China will shift the pendulum back to smaller vessels while tonne-mile demand is expected to suffer from shorter distances
With market ascendancy firmly with the charterers, a tendency for flexible and short-term fixtures remains a feature
There are around 18 newbuilds to be delivered in the first quarter of 2019, with 10 in January alone
Three of IRISL’s 14,508 teu newbuilds have joined the idle pool, with the remaining fourth vessel set to join them imminently
MSI says a steady flow of returning tonnage from charter expiries will also keep a lid on charter rates in early 2019
Analysts and brokers are forecasting a surge of up to 30% in some sectors
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