Despite the growing dominance of ultra large container ships on key trunk routes out of the Far East, there are still significant opportunities left for the post-panamax vessels which they displace. Demand for post-panamax charter tonnage has picked up in recent weeks, resulting in a sudden scarcity of 8,000 TEU vessels and fast increasing hire rates. A couple of Northern type 8,800 TEU ships reportedly fetched rates of around 31,000 $ per day in 10-12 months period fixtures with Maersk in what represents an increase of almost 30% on the last comparable contract. However, rate improvements in the broader market from feeder to sub-panamax class remained slow amidst strong competition for employment.
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