CSAV triples vessel charter payment

CSAV will pay nearly triple its current ship charter rate to extend use of a medium-sized container ship for 12 months, a stark sign of rapidly rising in the market for chartering vessels.
The Chilean ocean carrier will pay Singapore-based Rickmers Maritime Trust $23,888 a day to charter the 5,060 TEUs ship for a year from March 25, 2011, compared with the current daily rate of $8,288.
The willingness of CSAV, the world’s seventh largest carrier, to almost triple the payment for the 2004-built ship, highlights the strong recovery in the charter market as carriers scramble for tonnage to keep pace with strong cargo demand.
The CSAV charter “is a clear reflection of the significantly improved market environment we are operating in,” said Thomas Preben Hansen, CEO of Rickmers Maritime Trust.
“Container freight rates and volumes have returned to profitable levels for our customers and there is continuous demand for tonnage in 2011,” Hansen said.
Rickmers fleet of 16 containerships will be fully employed through 2011 with the next open position in March 2012, Hansen said.