Container ship charter market

Brokers are reporting a surge in container ship charter activity as shipping lines rush to secure tonnage to mitigate the impact of Red Sea diversions. Daily charter rates have increased across the board, with shipping companies needing to deploy up to 200 additional ships on their east-west networks to maintain weekly sailings. Maersk and smaller companies have been actively securing vessels, and demand for feeder ships has also increased significantly in the Atlantic. With no end in sight to the Suez Canal diversions, airlines are starting to adapt their networks accordingly. MSC and Maersk are adjusting their routes and adding ships to cope with the disruption. MSI calculated that shipping companies may need to deploy up to 120 additional ships on the Asia-Europe route alone, and with carrier network disruptions expected to continue, newbuilding deliveries may be used to plug the gaps in their networks. In the meantime, brokers predict a bonanza for non-operating containership owners (NOOs).