Charter rates have reached record levels in the sub-panamax boxship sector.

The move is fuelled by newcomer Singapore-based Transfar Logistics, which is paying top dollar for two small boxships, according to market sources.

Transfar is paying $150,000 per day to take the 3,091-teu Minna (built 2005) for about five months from German tonnage provider Peter Dohle.

The fixture is believed to be the highest time-charter rate ever secured by the Hamburg-based tonnage provider.