Charter Rates Rise Amid Falling Freight Rates

Container ship charter rates are still rallying even as freight rates are falling as ocean carriers seek additional tonnage to defend market share amid strong cargo volume ahead of the summer peak shipping season.
A gearless Panamax vessel of 3,500 20-foor equivalent units capacity is earning $18,800 a day compared with $14,000 in December and a 2010 average of $13,250, according to London-based broker Clarkson.
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SOURCE: The Journal of Commerce