Charter rates for container vessels continue to decline

The time charter rates for container vessels continue to decline, according to Alphaliner’s annual contract rate trend data. On average, time charter rates are now 15–20% lower compared to the end of last year.

At the same time, the rates for large and medium-sized vessels have decreased most significantly over the half year: the rates for container ships with the capacity of 8,500 TEUs are now 18% lower than in December, while the lease of 4,000 TEU vessels has become 21% cheaper.

Feeder rates have dropped by 15% over the half year, but their decline has accelerated sharply over the summer. Since May, time charter of vessels with the capacity of up to 1,000 TEUs has become 24% cheaper, and 27% cheaper for vessels with the capacity of 1,000–1,700 TEUs.