NON-operating containership owners (NOOs) are seeing reductions in daily hire rates and charter durations for new fixtures, reports London's Loadstar.
"The past year marked the peak of the container market and the exceptionally strong market conditions we saw over the last two years," said Danaos CEO John Coustas.
Dr Coustas was commenting during the Greek shipowner's Q4 and full-year results. "The decline in box rates to pre-pandemic levels across all routes foreshadows difficult times ahead," he said.
Dr Coustas stated Danaos was "closely following developments in the liner space" and believes the break-up of the 2M Alliance "will definitely be positive" for NOOs, "as there will be less efficiency in the networks."
Danaos is the third-largest publicly traded NOO, by capacity, with a fleet of 68 vessels for 421,000 TEU.
Dr Coustas stated ocean carriers "were only just beginning to study" the International Maritime Organisation's Carbon Intensity Indicator (CII) regulations.
NOO Euroseas CEO Aristides Pittas stated the charter market had "dropped by more than 80 per cent" in the fourth quarter of last year and added that in the early part of this year, "market rates gave up a bit more ground," but had since stabilised.
"All our other vessels are fixed with much bigger and stronger names, so I don't really anticipate any issues with those," said Mr Pittas.
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