LONDON: The impact of Covid-19 on the containership charter market has been significant with daily hire rates falling by up to 50%, according to an Alphaliner analysis. But the consultant says it is not all bad news for boxship owners, with some green shoots beginning to emerge as carriers “progressively resume suspended services and reinstate some sailings planned to be blanked.

“Charter rates fell by up to 45% for standard units of 8,500 TEU and up to 50% for standard container vessels in the size class of 6,500 TEU, based on Asia fixtures,” said Alphaliner.

According to its latest assessment, an open 8,500 TEU vessel is currently commanding a daily hire rate of $13,000, compared with around $18,000 in May, but there are also examples of some desperate owners agreeing rates of $10,000 a day. However, at the lowest levels, owners are only accepting short-term period fixtures, to cover their immediate operating costs, and are reluctant to agree extended terms at these depressed rates, given the more optimistic feedback on demand coming in from their brokers.

One broker source told on enquiries for open tonnage were “coming in thick and fast”. “It has rather surprised us, as we were expecting demand on the container desk to be quiet for the next few months at least,” he said.

“What we are seeing is some of the big liners looking to lock-in the lower market for one or two years, and our owners are having to take some big decisions on whether to take the lower rate, but with a guarantee of revenue, or hold out for the market to tick up.”