Eastern Pacific Shipping has cancelled the sale of a car carrier and turned to the charter market for a fat profit as rates surge.

Shipping sources following the segment said the Singapore owner has fixed out the midsize pure car/truck carrier for three years at a rate of $75,000 a day, or a total of about $82.1m.

One Asia-based car carrier executive said the charterer should have acquired the Xiamen-built, 4,902-ceu Lake Kivu (built 2006), as its current market value is about $30m less.