Box ship charter rates fall in slack fourth quarter

CHARTER rates for container ships have been declining during the seasonally slow fourth quarter, particularly as uncertainty surrounds carriers over cargo volumes and freight rates heading into the new year.
A report by The Journal of Commerce said that the market for gearless Panamax vessels of 3,500 TEU capacity has experienced the sharpest fall, with daily earnings decreasing to US$13,250 from $19,000 in September, according to London-based shipbroker Clarkson.
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Source: Shipping Online.cn