A sector once deemed the rising star of the boxship sector is falling to earth as owners of super post-panamax (SPP) containerships pay the price for their heavy ordering.
Rates for vessels in the 8,000-teu to 10,000-teu sector seem to be tumbling off a cliff, as a sequence of factors conspire to dim their charter prospects.
Expectations that SPP boxships were the future workhorses of the container sector led to an array of independent owners embarking on speculative orders.
