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With fleet growth of 3.7%, compared to global container shipping demand growth of only 1%, even blanked sailings have been unable to lift freight rates.
As freight rates are coming back from the abyss, their actual rise seems to be magnified beyond their actual performance. Some container spot freight rates are up more than 100% from the very low levels of last year, but may still be at a loss-making level now and so spot rates are not the best indicator for market profitability.
As the lowest level of newbuild containership deliveries since 2004 was combined with record breaking scrapping levels, net inflow of capacity amounted to just 246,000 TEU – a growth rate of 1.2% - probably the lowest ever.
SmartCon is BIMCO’s online contract editor. It allows users to edit, negotiate and finalise over 150 different shipping-related documents. It includes the most popular and common contracts such as bills of lading, time and voyage charter parties as well as sale and purchase and newbuilding contracts.
Capesize: The Capesize market made a revival this week, taking fortunes out of the red by rising the tide on values to be closer to the low-teens level on the 5TC.
Capesize: The Capesize market had the wind in its sails as rates jumped in all regions. The 5TC ended the week at $32,733, a rise of 8731 week on week.
Capesize: After several weeks of relatively flat price movement, the Capesize 5TC market has started to show a little positive sentiment with levels pushed to $15,299.
The labour conflict that caused a widespread and highly disruptive strike and subsequent congestion in most US West Coast ports, especially for the container shipping industry ended toward the end of February.
The challenge of redeploying laid-up vessels in a market flooded by newbuildings creates a market balanced on a knife edge
