Feeders still dominate boxship charter market as tonnage supply stays limited

Containership charter rates remain firm amid tariff threats and looming US port levies. Slight uptick in rates for small feeders reported in past week. Charter market continues to hold up despite downturn in most container freight markets.

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by Lloyd's List

1 April 2025 (Lloyd's List) - THE box ship charter market continues to defy container freight markets with no sign of a downturn in demand for chartered tonnage during a period of high geopolitical tensions, looming US tariffs and port levy threats.

For the first time since January, the Shanghai Container Freight Index recorded minor gains, rising 4.96% week on week. This was chiefly due to rising freight rates in on the Shanghai-US routes but the overall index remains depressed since the start of the year. Conversely, the charter market has remained resilient during the same period.

Shipbroker Martini Chartering said tonnage availability remained short, while charter rate levels were running sideways. It noted, however, recent charter rate gains for feeder vessels in the northern Europe and Mediterranean markets.

“With the overall majority of market participants looking intently at the US Trade Representative Office port levy talks in the US it has been quite an uneventful week when it comes to the container charter market,” said Martini Chartering.

The Hamburg and Bremen Shipbrokers’ Association (VHBS) confirmed that the charter market remains stable with its New ConTex index gaining seven points, or 0.5%, in the past week.

“While it looks again as there might be no improvement in the Red Sea/Suez traffic hopes are sparking for an easing in the Black Sea trades,” said VHBS.

Should peace talks pushed by the US government eventually result in an easing of tensions then VHBS expects demand for feeder tonnage serving the Black Sea to rise, providing even stronger rate expectations for smaller vessels.

Shipbroker Braemar said as soon as vessels are coming on to the charter market they are being snapped up, “a clear sign that demand remains solid despite the broader noise”.

“Amid all the ongoing uncertainties and the seemingly never-ending geopolitical tensions the container time charter market continues to hold firm,” said Braemar.

Recently reported fixtures included the 4,600 teu Zhong Gu Yin Chuan (IMO: 9938913), which was fixed to CMA CGM for two years at a daily rate of $43,000.

The same operator also fixed sister vessel Zhong Gu Fu Zhou (IMO: 9938901) under the same terms.

In the feedermax segment, Maersk extended the charter of the 2,700 teu Elisabeth P. (IMO: 9320142) for two years at $26,500 per day.

Recent regional feeder fixtures included the 1,300 teu Annalisa P (IMO: 9437141). The charter of this 2008-built vessel was extended by Yang Ming for two years at a daily rate of $20,000.