Charter rates now stand in many cases below operating costs meaning defaults on loans are likely. DVB Bank warns any owner getting a newbuild of between 2,000 to 3,000 teu is unlikely to break even on that ship next year.
Idle boxships proliferate as charter rates plummet
Charter rates now stand in many cases below operating costs meaning defaults on loans are likely. DVB Bank warns any owner getting a newbuild of between 2,000 to 3,000 teu is unlikely to break even on that ship next year.