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Costamare Inc. Message Board

  • bigfry_52 bigfry_52 Jan 3, 2011 4:25 PM Flag

    Day Rates are ... Increasing... in a BIG WAY !!!!!

    South American liner company is exercising their option for a "5k TEU" ship at $24,000/day starting on March 25, 2011

    This is roughly .... 3x times ... the "current" rate of $8,000 per day.

    This underscores the current seasonal lows recently seen.... and consequently highlights the outlook for charter demand
    in the not too distant future... (less than 100 days out)

    Published: 06:02 GMT, 28 Dec 10
    By: Dale Wainwright / Singapore

    CSAV extends RMT Ship

    CSAV has declared its option to extend the charter of the 5,060-teu Kaethe C Rickmers (built 2004) for an additional twelve months.

    The Chilean liner operator has had the ship on charter from Singapore-listed Rickmers Maritime Trust since March 2010.

    The extension is due to take effect on 25 March 2011 at a fixed daily net charter rate of $23,888 per day, against the current net rate of $8,288.

    “The declaration by CSAV is a clear reflection of the significantly improved market environment we are operating in,” Rickmers Maritime said.

    “Container freight rates and volumes have returned to profitable levels for our customers and there is continuous demand for tonnage in 2011.”

    The declaration brings full clarity to Rickmers’ 2011 revenue as its fleet will be 100% employed next year, with the next open position in March 2012.

    Rickmers has 16 containerships on the water with an average age of 3.3 years and average remaining charter period of 5.2 years.


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