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.