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

Home » Ship Charter Rates Spiral Downwards

Ship Charter Rates Spiral Downwards

by Joshua
February 22, 2009
in Uncategorized

Freight rates are continuing to spiral downwards with stark drops being experienced alongside an increase of short term spot deals for temporary tonnage, reports HKSG Media.
Quoting the London shipbroker firm of Clarkson, HKSG Media says earnings for midsize container ships of 3,500-TEU is down at $10,500 a day from $17,500 in October, and 2008’s average of $26,125 and even further from 2005 when charter rates topped $38,000 a day for a panamax ship.
“Smaller vessels are in similar decline with a 1,100-TEU ship on a 12-month charter currently earning $4,770 a day, down from over $9,000 in early October,” reports the Hamburg Shipbrokers Association. Before the market plunge a 2,500-TEU vessel earned a daily rate of $8,185 a day against $25,074 in May 2008.
Newark’s Journal of Commerce meanwhile reports that idle charter containerships have reached 200 with more expected following news of a possible redelivery from CMA CGM of 60 vessels adding to an overflowing tonnage in the coming months. – source HKSG Media

Related Posts

Despite ₦5.17trn Surplus, Dollar Dominates Nigeria-China Trade As Naira-Yuan Swap Struggles

Despite ₦5.17trn Surplus, Dollar Dominates Nigeria-China Trade As Naira-Yuan Swap Struggles

June 30, 2025
Meningitis: Death Toll In Kebbi Hits 56 – Govt 

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

March 24, 2025
Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

January 8, 2025
PHOTO NEWS: SIFAX Thanksgiving and Night of Praise 2.0

PHOTO NEWS: SIFAX Group Thanksgiving and Night of Praise 2.0

December 18, 2024

Discussion about this post

Latest News

Customs Intercepts Fuel Worth ₦58.36m

CRFFN in Crisis as 4 of 5 Accredited Associations Rebel — Declare POF Illegal After Court Bombshell

July 19, 2025

Nigerian Navy’s Maritime Institute Commences Executive Blue Economy Course for Media Leaders

NSML Bags Maritime Excellence Award, Reaffirms Focus on Training and Capacity Development

Alumni of Maritime Academy of Nigeria Appeal to President Tinubu to Protect Academy’s Unique Structure

NIMASA’s Campaign Against War Risk Premiums: Rhetoric Or Real Reform?

Customs Intercepts Fuel Worth ₦58.36m

E-Call-Up: Lagos, Stakeholders Agree On From Aug. 1 Take-off, N10,000 Fee

Customs CG Adeniyi Adopts Public School, Promises Sustained Support for Education, Health and Youth Development

Navy Hands Over 1,575 Kg Of Cannabis Sativa To NDLEA

Comptroller Oramalugo Launches Second Edition Of Book On Customs Administration In Nigeria

Troops Apprehend 42 Oil Thieves, Recover Stolen Products

Mariners Launch Waterside Centre in Lagos, Hold Symposium in Honour of Late Dr. Asoluka

kindly like our Facebook page

Health

The Usefulness Of Watermelon Seeds You May Not Know
Health

The Usefulness Of Watermelon Seeds You May Not Know

July 14, 2025

Watermelon is one fruit that’s hard to resist when it gets too hot. It’s sweet and is high in water...

KNOW YOUR BODY PARTS: THE HEART

KNOW YOUR BODY PARTS: THE HEART

June 30, 2025
Why Your Favourite Seasoning Cubes May Be Hurting Your Kidneys

Why Your Favourite Seasoning Cubes May Be Hurting Your Kidneys

June 30, 2025
Contraceptive Pills Can’t Cause Cervical Cancer – Expert

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025
ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
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

© 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