15 February 2022
Freight News

Tonnage Crunch Continues, Pushing Carriers to Suspend More Services

Ad-hoc carriers prepared to pay colossal daily rates for three-month hire of panamax containerships have disrupted the charter market, obliging liner companies to raid services for tonnage to start new loops.

It is no surprise that shipowners are declining to extend charters with ocean carriers, despite the lines agreeing to accept big daily rate hikes and much longer periods.

One line suffering from the tonnage squeeze is Israeli carrier Zim, with its asset-light strategy of chartering all but two of its 109-vessel fleet. According to Alphaliner, Zim is being forced to juggle its tonnage and suspend a transatlantic loop to support its network.

Read more in an article from The Loadstar.

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