Singapore's NOL predicts container shipping freight rates will continue to rise as demand remains strong, reports Newton, Massachusetts-based Purchasing magazine which did a round up of world media reports.
"Rates are coming back; our ships are full," said NOL chief executive Thomas Held. "The double-digit rise in our container volumes and improving rate situation in our key trade lanes led to an improved performance in the second quarter."
Worldwide container shipping demand is forecast to increase by about 10 per cent annually until 2010, said Philip Damas, a research director at Drewry Shipping Consultants in a Bloomberg report.
Most demand is on Asia routes. Reuters said the China Containerised Freight Index, a barometer of shipping prices compiled by the Shanghai Shipping Exchange, is up nearly 12 per cent in the last year.
Higher demand for ocean container shipping has prompted ship operators such as NOL and AP-Moeller Maersk to place more orders for new builds at a time when shipyards are struggling to cope with the influx of ship orders.
"Demand for large-sized container vessels has been particularly strong this year, something we didn't expect at the start of the year," said Cho In Karp, analyst for Seoul Securities Co.
Bloomberg said vessel prices for 6,200-TEU ships rose by 15 per cent in the past three years to an average of US$105 million at of the end of the first half, according to London-based Clarkson.
The favourable market conditions has also encouraged Hapag-Lloyd, MISC, NYK and OOCL to extend its Grand Alliance membership until 2017.
"Rates are coming back; our ships are full," said NOL chief executive Thomas Held. "The double-digit rise in our container volumes and improving rate situation in our key trade lanes led to an improved performance in the second quarter."
Worldwide container shipping demand is forecast to increase by about 10 per cent annually until 2010, said Philip Damas, a research director at Drewry Shipping Consultants in a Bloomberg report.
Most demand is on Asia routes. Reuters said the China Containerised Freight Index, a barometer of shipping prices compiled by the Shanghai Shipping Exchange, is up nearly 12 per cent in the last year.
Higher demand for ocean container shipping has prompted ship operators such as NOL and AP-Moeller Maersk to place more orders for new builds at a time when shipyards are struggling to cope with the influx of ship orders.
"Demand for large-sized container vessels has been particularly strong this year, something we didn't expect at the start of the year," said Cho In Karp, analyst for Seoul Securities Co.
Bloomberg said vessel prices for 6,200-TEU ships rose by 15 per cent in the past three years to an average of US$105 million at of the end of the first half, according to London-based Clarkson.
The favourable market conditions has also encouraged Hapag-Lloyd, MISC, NYK and OOCL to extend its Grand Alliance membership until 2017.