Global Ship Lease is seeing a rise in interest in longer charter terms for container ships as freight rates rise amid the Red Sea crisis.

The US-listed container ship owner’s chief commercial officer, Thomas Lister, said that smaller boxships which might have been chartered for two to three months in late 2023 can now find 12-month contracts.

Larger vessels that could have attained yearlong charters are now being fixed for two to three years, said Lister, who will replace Ian Webber as chief executive at the end of the this month.