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Citi: Rates to fall 5-10pc in 2015 as delayed ship deliveries flood market
RATES will tumble five to 10 per cent in 2015 because supply will be bolstered by late deliveries of mega ships, said a recent Citi report.
Alphaliner concurs, forecasting a 7.8 per cent increase, that is, 21 ships in the 18,000-20,000 TEU range and 32 ships in the 13,300-18,999 TEU range.
"Better-than-expected supply/demand situation has helped support the overall freight rate in 2014," the Creport said.
"Lower bunker costs will release some of the cost burden, but we suspect some benefit will be passed on to end-customers. As such, we expect the freight rate to fluctuate within a similar range (versus 2014)," said the report.
Alphaliner concurs, forecasting a 7.8 per cent increase, that is, 21 ships in the 18,000-20,000 TEU range and 32 ships in the 13,300-18,999 TEU range.
"Better-than-expected supply/demand situation has helped support the overall freight rate in 2014," the Creport said.
"Lower bunker costs will release some of the cost burden, but we suspect some benefit will be passed on to end-customers. As such, we expect the freight rate to fluctuate within a similar range (versus 2014)," said the report.
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