Containers continue to triumph
The Container market continues to impress with record breaking rates and newbuild ordering never seen before. Values across the sector have more than doubled in just 3 months, cargo miles are almost back to pre-pandemic levels, and the New Panamax Container takes the crown for highest number of orders and speeds of 16.37 knots.
Olivia Watkins, Head Cargo Analyst takes us through what has been happening with orders, transactions, values, rates and trade for the first half of 2021 and how these sky-high figures compare to previous years’ activity.
“The ordering market for Containers is at historic highs. A total of 286 Containers were ordered in the first half of 2021, up an incredible 790% from H1 2020. We’ve also seen a significant increase in activity in the secondhand Panamax Container market which is setting new benchmarks each week.
With the ever-firming rates across the Container sector, we have seen a surge in values. Increased US imports, port congestions and a shortage of capacity is pushing freight rates to record levels on key routes from China to the US and Europe. At the end of March, a generic 15 year old Panamax was worth USD 20 mil, today she is worth USD 48 mil…”
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