ShippingWatch

Prices on Panamax container ships plummet

Owners of container ships that Maersk Line and other carriers are returning on a large scale these years, especially to German KG companies, could be left holding unemployed ships with low sale prices.

Photo: Hamburg Süd

Chronic overcapacity, further strengthened by a steady flow of ships being returned to their owners when contracts expire, help keep charter rates for Panamax container ships - approx. 3,400 to 4,500 teu - all the way down.

Most recently Maersk Line has returned 14 container ships of 3,600 to 4,200 teu to their owner, a German KG fund.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Shipping in a safe position despite shaky world economy

Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”

Less congestion makes dry bulk rates decline

Port congestion has eased, leading to a decrease in dry bulk rates. According to Clarksons, the development is not least due to low industrial production in China following Covid lockdowns.

MPA appoints new CEO

Quah Ley Hoon steps down as CEO of Maritime and Port Authority of Singapore at the beginning of September after around three and a half years on the post.

Further reading

Related articles

Latest news

See all jobs