Charters rates are falling steadily with further declines expected over the
coming weeks with vessel availability rising faster than the market can absorb.
There are more than a dozen newbuildings of up to 3,000 teu scheduled for
delivery in the coming 3 months that remain open for charter, putting further
pressure on an already over-supplied market. Charter rates have slipped across
all sizes including the larger sectors of over 4,000 teu where there is an
increasing build up of surplus ships.