A charter market correction could be looming amid the deterioration in spot rates. Citing the Shanghai Containerised Freight Index, Splash reports that spot rates have plummeted some 47%. And, while profitability remains possible as long as utilisation remains above 80%, the same report notes that box ship utilisation on the world’s biggest trades has now dipped below 90%.
Despite the year starting in contraction, the charter sector has been experiencing something …
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