shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Maersk Takes Over Yang Ming Charter

Maersk Takes Over Yang Ming Charter

by Joshua
October 25, 2023
in Coast To Coast

Yang Ming has sub-let one of the quintet of 12,690 teu vessels it took on a 10-year charter in 2020-21 to rival ocean carrier Maersk.

According to broker reports, Maersk will take charge of the Costamare-owned vessel in Q1 or Q2 next year for 12 months, at a daily rate of $57,000.

The fixture is the latest example of activity in the sub-let charter market for this size of vessel, in strong demand for the more buoyant north-south container trades.

Indeed, despite the oversupply of newbuild vessels in the ultra-large sizes, Alphaliner reports a “persistent shortage” of large ships, between 7,500 teu and 13,000 teu, “forcing charterers to pay healthy monies to secure the tonnage they need”.

The consultant said the Yang Ming ship was “a good size” for north-south trades, “where Maersk might be seeking to upgrade capacities”, adding: “Not all trades are hit by low rates and insufficient volumes.”

It explained: “While the east-west corridor is suffering a glut of tonnage, some north-south routes are doing better, especially West Africa and South America and India.”

It follows that carriers with less exposure to the under-pressure east-west tradelanes will enjoy a better return on their investment, while in contrast, the persistent sub-economic freight rates on some of these routes will severely damage the bottom lines of carriers heavily reliant on those trades for revenue.

Meanwhile, on containership charter market desks, brokers report a spike in enquiries following the Chinese Golden Week holiday.

“The number of fixtures being reported, as well as several pending negotiations, are pointing towards increased activity,” said London-based shipbroker Braemar.

Nevertheless, the majority of charterers in the market will not entertain longer-term fixtures, with most deals being done for a maximum hire of six months, including options.

And in a word of caution, Braemar said the current short fixtures meant vessels would “soon be open again, with operators expecting to renegotiate”.

Although daily hire rates in the larger sectors are holding up well, in the smaller sizes rates are weakening. In particular, Alphaliner reported that open tonnage was building up in the 2,000 to 2,699 teu sizes, noting that 10 further such ships would be looking for fresh charters by the end of November.

“Most of this tonnage is/will be open in Asia, while two vessels will be seeking new employment in the Atlantic,” it said.

In the smallest, sub-1,000 teu, sizes the consultant reported the looming prospect of “substantial overcapacity”, with, according to its data, some 21 ships becoming open early next month.

As earnings decline to just above operating costs even when these ships are employed, and with tougher environmental regulations around the corner, containership owners could decide soon that the time is right to retire their elderly tonnage – which will kickstart the hitherto lacklustre demolition sector.


Tags: Maersk LineYang-Ming

Related Posts

 CMA CGM Launches Electric River Barge with NIKE

 CMA CGM Launches Electric River Barge with NIKE

June 1, 2025
Egypt To Reduce Customs Clearance Time To 2 Days By 2025

Egypt To Reduce Customs Clearance Time To 2 Days By 2025

June 1, 2025
UK-Korea Workshop Focuses on Regulatory Readiness for Autonomous Shipping

UK-Korea Workshop Focuses on Regulatory Readiness for Autonomous Shipping

June 1, 2025
158 Vessels Abandoned Globally, Impacting 1,501 Seafarers —-ITF

158 Vessels Abandoned Globally, Impacting 1,501 Seafarers —-ITF

June 1, 2025

Latest News

NPA Targets N1.28 Trillion Revenue In 2025

NPA Targets N1.28 Trillion Revenue In 2025

June 24, 2025

Customs Proposes N1.13 Trn For Its 2025 Operation

After Eno’s Defection, NYCN Urges Tinubu To Actualise Ibom Deep Seaport Project

Railway Police Arrest Alleged Vandals In Ilorin, Kano, Gombe

OMT Makes History as First LNG-Powered Container Ship Berths in West Africa

APFFLON Congratulates CG Adewale, Calls for Two-Year License Validity for Freight Forwarders

AfCFTA SHOCKER: Nigeria’s First Kenya-Bound AfCFTA Cargo Spends 50 Days To Destination 

ENL Debunks Ship Fire Report At Apapa Terminal     

Lekki Tanker Drivers Defy E-Call Up System, Abandon Seven Fully Equipped Parks Over Fee Dispute 

India, China, US Dominate Nigeria’s Foreign Trade In Q1 2025 As Trade Surplus Hits ₦5.17trn   

‘Freight Forwarders Deserve Share of CVFF’ — ANLCA Chieftain Makes Case As FG Targets August Disbursement     

FG Donates 1000 Life Jackets To Residents Of Kwara, Says Boat Mishap Avoidable     

kindly like our Facebook page

Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts
Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025

Association of Medical Laboratory Scientists of Nigeria, Lagos State chapter, has raised the alarm over the increasing number of men...

20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025
Some Truths and Myths About Agbo Herbal Concoction

Some Truths and Myths About Agbo Herbal Concoction

April 21, 2025
The Malaise Of Misuse of Antibiotics

The Malaise Of Misuse of Antibiotics

April 14, 2025
Urologist Debunks Breast-Cancer Prevention Myth

Urologist Debunks Breast-Cancer Prevention Myth

April 14, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition