Car carrier rates have jumped to all-time highs as charterers battle for increasingly scarce tonnage.

Less than two years after demand was devastated by the pandemic, the sector is buoyant — and further rises are likely.

Valuation platform VesselsValue’s head of roros and vehicle carriers Dan Nash says “bidding wars” are driving rates up to levels never seen before.

Singapore owner Eastern Pacific Shipping’s 4,902-teu Lake Wanaka (built 2008) is reported fixed out for a year at $50,000 per day to Volkswagen from this month.