What Caused the Falling Charter Rates?
2022-10-28 09:50:09
Data from VesselsValue shows that Panamax’ (4,250 TEU) charter rates have peaked at 99,000 USD/day in March this year. By the end of September, the rates had slumped to 51,000 USD/day. What caused the falling charter rates?
Actually, the container market is undergoing a period of correction after a period of historically high freight rates. The demand across the container sector has reduced under the influence of market concerns about the health of the global economy. This eased port congestion across American and Chinese ports and consequently caused the falling in charter rates.
Actually, the container market is undergoing a period of correction after a period of historically high freight rates. The demand across the container sector has reduced under the influence of market concerns about the health of the global economy. This eased port congestion across American and Chinese ports and consequently caused the falling in charter rates.
