BUMPING ALONG THE BOTTOM

摘要

The first quarter of 2013 saw lease rates slip again, but lessors expect a pick up later in the year. However, any recovery in per diem rates in 2013 will be modest. Containerisation International reports The opening quarter of any year tends to be the most challenging for the liner shipping industry and 2013 was no different, as box output was soft and lessors' equipment utilisation levels were down, albeit only slightly on the record levels (well over 95%) of the past two years. Per diem rates slid further as a consequence, although the rate of decline was much slower. As figure 1 highlights, apart from a slight rally in second quarter 2012, per diem rates have fallen almost consistently since the final months of 2010 and according to latest research by Containerisation International were between 50% and 54% lower at the end of first quarter 2013 than they were at the start of 2011.