The truce in the US-China trade war is expected to support the boxship charter market, now that Chinese-owned or built tonnage will not be discouraged from calling US ports and US-controlled vessels will not have to pay hefty port fees for entering China.
Container shipping consultancy Linerlytica stated that forward fixtures suggest charter rates will remain firm into the first half of 2026.
Hapag-Lloyd is said to have chartered the 2017-built 11,923 TEU Sao Paulo Express from Seaspan Corporation, after the ship completed a fixture to Ocean Network Express. The fixture was concluded on private terms.
The German operator was also reported to have chartered the 2014-built 5,466 TEU Stephanie C from Danaos Corporation after the vessel completed its hire to Asyad Shipping. Hapag-Lloyd is said to have fixed Stephanie C for three years for US$33,750 per day.
ZIM Line continues to secure tonnage, renewing its hire of Danaos’ 2009-built 4,253 TEU Jamaica for 32 months, paying US$35,000 per day.
Linerlytica suggested that the US-China detente has delayed an expected normalisation in charter rates, which contradict the downward slide in freight rates. The consultancy said: “Charter rates have continued to hold firm across all size segments with rates and periods remaining very strong.”
Linerlytica noted that in the two weeks that the port fees were implemented in October, the impact was minimal, and it was mainly COSCO Shipping Lines and Matson Line that were hit. The US-China tariff war and mutual port fees were paused after both countries’ leaders met in Busan on 30 October.
In a weekly note, Clarksons said that while the pause in port fees will ease financial and operational pressures for directly impacted companies, it is uncertain how things could change in future. The brokerage said: “Markets will be wary of further policy changes and may continue to manage their risk profile for the moment.” (PL)
