Maersk charter ships at high prices to ensure the capacity of Gemini
Maersk Line continues to pay top dollar to secure capacity on Gemini Cooperation's intra-Asia route, which will start next month.
Alphaliner reported that Emirates Shipping had subleased its 4,398 teu BF Giant to Maersk for two months at $75,000 a day, a rate not seen since the coronavirus boom, despite potential overcapacity concerns if Red Sea shipments resume.
"The classic Panamax market continues to perform well, with demand outstripping supply," it added.
"For short-term charters, some carriers are willing to pay large sums to secure the required capacity. Vessels of 3,000-3,800 teu continue to enjoy very strong conditions due to capacity shortages and continued demand."
Maersk also extended the charter of the 4,582 teu catamaran Kmarin Azur and Kmarin Atlantica for three years at a rental rate of $43,000 per day. The ships, formerly owned by South Korea's Kukje Maritime Investment (Kmarin), have been under Maersk's charter since 2016 following the bankruptcy of the previous charterer, Hanjin. Last month, Kmarin sold the two vessels to German tonnage supplier D Oltmann Reederei for $53 million each.
The broker also reported that Wanhai Line has leased the 2,741 teu vessel Wanhai 309 to Maersk Line for five months at a price of $45,000 per day; The vessel currently operates between Tanjong Parapas port in Malaysia and Visakhapatnam Port in India, where Gemini Shipping partner Hapag-Wright operates a terminal.
This is not the first time Maersk has leased vessels from other operators. A year ago, the Danish liner leased 13,100 teu Wan Hai A12 and 15,000 teu ONE Focus to service its TP6 Far East - US West Coast route after the crisis in the Red Sea caused a severe capacity shortage.
Hapag-lloyd has also been active in the past two weeks, securing vessels by extending charter terms and entering into charter agreements for two to three years in order to reduce charter rates.
The German airline has leased two new vessels Nordatlantic and Nordbaltic with a capacity of 1,930 teu from Reederei Nord for two years at $20,000 per day.
