Container ship charter rates are falling as ocean carriers sit out the seasonally slack fourth quarter and reassess their capacity requirements amid uncertainty over cargo volumes and freight rates going into the new year.
The market for gearless Panamax vessels of 3,500 20-foot equivalent units capacity suffered the steepest decline, with daily earnings falling to $13,250 from $19,000 in September, according Clarkson, a leading London shipbroker.
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Source: The Journal of Commerce
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