Charter market gathers new momentum as ocean rates keep rising

The container charter market has gathered fresh momentum, despite entering what is traditionally a quieter summer period,.

Robust freight rates and improving liner profitability continue to underpin demand for tonnage.Â

According to Braemar’s latest market analysis, chartering activity has remained “healthy”, with operators returning to the market for both contract extensions and forward fixtures.Â

This has been buoyed by a freight market that has strengthened markedly since the first quarter, and global container freight rates continued their upward trajectory this week. Â

“The much stronger freight market compared with Q1 has naturally lifted liner profitability, making chartering decisions much easier than they were only a few months ago,” it explained. Â

The industry consultant added that not only were improving freight earnings accelerating internal decision-making among carriers seeking additional capacity, but congestion was also continuing to tighten effective vessel supply.Â

Thus, forward-charter demand is becoming increasingly evident, particularly in larger vessel classes where available tonnage for 2026 is already scarce.

Braemar highlighted market reports that Maersk had fixed two 14,000 teu TS Lines newbuildings on three-year charters at around $80,000 a day for delivery in Q2 27, the Danish carrier favouring chartering rather than placing large numbers of newbuilding orders to add capacity.Â

The broker said similar discussions were under way in the panamax sector, warning that much of the available 2027 tonnage could soon disappear as operators moved to secure future coverage.Â

Tightness also persists in the sub-panamax market, where prompt vessels are typically fixed almost immediately for periods of around two years, while demand for feeder vessels remains firm, despite quieter activity in the smallest size brackets.Â

Braemar said this increased demand, along with rising charter rates, and stronger liner profits, were once again driving asset prices higher. It predicted that further gains were expected over the summer.Â

MSC is understood to have agreed to acquire the 4,253 teu Sunny Phoenix and Felixstowe for around $27m each, the vessels having reportedly changed hands in the high teens only months earlier, “demonstrating quite how far the market has moved”. Â

Meanwhile, “after heavy competition”, the 1,096 A Goryu has been sold to a China-based buyer for $26.5m.Â

The consultant added: “With lines busy revising profit forecasts up for the year, it would appear that the party isn’t going to stop in the immediate future.”

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