NMM - Containership charter rates top records; 8500 TEU charters jump 4x Y/Y

Containership charter fixtures rates have broken through to fresh all-time highs, S&P Global Platts reports, citing Harper Petersen & Co. data.Time-charter rates for a ship with a capacity of 8,500 20-ft. equivalent units reportedly registered at $65K/day on June 4, more than 4x higher than the year-ago assessment of $15K/day.On the freight rates side, the Platts Container Freight Index was assessed on June 4 at $5,559/FEU, nearly 5x higher than the $1,141/FEU assessed a year ago.S&P Global Platts says sources expect further increases as carriers desperate for additional capacity attempt to outbid one another on both price and charter length.Many charter agreements reportedly have been extended far past the historical norm of six- to 12-month agreements, with many most now being fixed on a multi-year basis.After a flurry of newbuild orders in 2021, 2021-22 deliveries are expected to provide only marginal growth to global fleet capacity, supporting carrier pricing power.Potentially relevant

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Containership charter rates top records; 8,500 TEU charters jump 4x Y/Y