The containership charter market has so far weathered the coronavirus storm — but that looks about to change as more ships are idled.
Charter rates could fall between 30 to 40% this quarter compared to the fourth quarter of last year, with a smaller correction for feeders whose earnings are already depressed, according to Maritime Strategies International (MSI).
It points to the sudden and sharp drop in trade volumes as causing cash flow problems for liner operators that lost business during China’s shutdown.
