Containership charter rates are testing fresh lows, and hire periods are shrinking rapidly as ocean carriers rein in leased box capacity in a bid to narrow the huge supply/demand gap. The market is “deeply depressed” with conditions worse than in the previous downturns in the mid-1980s and in 2002, according to Clarkson, the leading London shipbroker. … Ships of 4,250 TEUs that were commanding well over $30,000 a day before the market turned are now getting only around $6,500 for 12 month charters.
