Peak in charter expirations moves to 2025 as non-operating owners lock in more long-term deals
Less than 20% of the publicly-listed non-operating owners’ (NOO) charter capacity will come up for renewal in the next 18 months, one of the lowest ratios seen in the modern container market.
The trend reflects the large number of multi-year contracts signed by NOOs with carriers, who have been forced to accept such deals in order to secure tonnage in the hot market.
The largest amount of charter capacity will now expire in 2025, with a quarter of the public companies’ charters due to continue until at least the end of 2026.
By contrast, less than 200,000 teu will come up for renewal for the five NOOs in 2022.
The publicly-listed NOOs have a combined fleet of some 2.6 Mteu and an aggregate share of the NOO market of more than 20% and are regarded as representative of the wider market.