Four-year-plus charter deals are becoming the norm as shipowners ratchet up the pressure on liner companies.
As their confidence of the sustainability of currently elevated freight rates grows, ocean carriers are committing to ever longer charter periods.
According to one broker, shipowners are dismissing enquiries for periods of less than three years.
“One of our owners said today he was not interested in talking about an extension to a ship he has on hire to a liner unless it was for three years – and at double the rate.
“The owners are really in the driving seat now and are looking to lock-in high daily hires for as long as possible,” he said.
