Containership charter rates are in "free-fall" due to the slump in demand caused by the coronavirus.
However, shipowners are not yet ready to put their ships into hot lay-up in anticipation of a sharp recovery of volumes.
Rates have plunged to their lowest levels in three years and larger containerships and traditional panamaxes have been particularly hard hit, growing numbers of idle ships
But the pain is felt across the board with falling charter rates in all sectors of the boxship market.
