X-Press Mekong Sets Record for Container Rental

The X PRESS MEKONG, a 2756 TEU container ship, has been chartered for a staggering $175,000 a day by the Pasha group, as confirmed by the liner data provider Linerytica. This $10.5 mn for a charter of 50 days is the highest rate ever paid for a containership of this capacity. Containership rates are reaching new highs, and with availability still being scarce, analysts are warning of the rates continuing to be high for a large part of the year.

Rates for containerships have been rising since the end of last year. The Alphaliner group, a research entity specializing in maritime transport, confirmed that the Swiss company MSC sold a vessel at the end of last year with a cargo of 4896 TEU for about $105 mn to X-PRESS JERSEY. For context, MSC had picked up the ship at $26.9 mn at the beginning of the same year. Among other charter deals are, 1997 built, 2542 TEU Messini chartered by Wan Hai at $80,000 a day for 12 months. There are also reports of a 4300 TEU Panamax vessel being rented at $230,000 a day for a short period.

In this situation of post-pandemic congestion, many liner companies are purchasing ships. This is the outcome of the limited availability of container ships in the global market, states Clarksons, a provider of integrated shipping services. Clarksons also pointed out that the newbuild deliveries of ships will take some time, and if the situation continues, soon 2023 will be in the limelight with almost no ships being available for the rest of 2022.

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