Business Daily from THE HINDU group of publications
Monday, Aug 13, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Aug 13, 2007 ePaper |
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Logistics
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Shipping Growing demand for ships
The scarcity of container ships for charter over the short and medium term is growing as the demand for ships exceeds their availability. As a result, the charter rates are shooting up, and are likely to escalate further as competition is set to become intense with shipping lines scrambling to secure available assets in view of the growing US-Asia and Asia-Europe trades which are entering the peak shipping season. Shipping Gazette, quoting AXS Alphaliner News, indicates the ship availability for the second half of the year as follows: For July to December, the availability of the number of 4,000-5,000 TEU vesels fell to one in the first week of July from 13 in January 1; the 3,000-4,000 TEU vessels from 41 to nine; 2,500-2999 TEU vessels from 69 to 16; 2,000-2500 TEU vessels from 72 to 16; and 1500-2,000 TEU vessels from 190 to 50. It is indeed a shipowner’s market now. Our Bureau
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