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CMA CGM to spend US$120m on 3-year charters for 4 newbuilds
FRENCH shipping line CMA CGM is paying up to US$29,000 per day to fix four 10,010-TEU vessels on three-year charters. The box ships are currently under construction at China's Jiangsu Yangzijiang and are scheduled for delivery in February and May 2018.
The vessels are being built for Seaspan Corp and its private equity partner, Greater China Intermodal Investments. The pair ordered the ships in December 2014 and April 2015.
The deal is estimated to be worth US$120 million over the three-year period but could amount to much more as it includes options to extend the charters for another three years, reported TradeWinds of Oslo.
The fixtures will add to CMA CGM's pending box ship order for up to nine 22,000-TEU newbuildings at China State Shipbuilding Corp's Hudong-Zhonghua Shipbuilding (Group) and Shanghai Waigaoqiao Shipbuilding.
CMA CGM is committing to the larger ships at a time when charter rates for large containerships are picking up, even for shorter periods.
That trend is reflected by Greek owner Costamare achieving a firm rate on one of its larger vessels. The 11,037-TEU Cape Tainaro (built 2017) is understood to have been fixed by Evergreen Marine Corp for 11 to 13 months at $27,000 per day, according to unidentified brokers.
The rate is a vast improvement on levels of just $18,900 to $19,000 per day obtained by the Cape Tainaro and four sister ships in March and April following their delivery from Hanjin Heavy Industries' Subic Bay facility in the Philippines.
The vessels are being built for Seaspan Corp and its private equity partner, Greater China Intermodal Investments. The pair ordered the ships in December 2014 and April 2015.
The deal is estimated to be worth US$120 million over the three-year period but could amount to much more as it includes options to extend the charters for another three years, reported TradeWinds of Oslo.
The fixtures will add to CMA CGM's pending box ship order for up to nine 22,000-TEU newbuildings at China State Shipbuilding Corp's Hudong-Zhonghua Shipbuilding (Group) and Shanghai Waigaoqiao Shipbuilding.
CMA CGM is committing to the larger ships at a time when charter rates for large containerships are picking up, even for shorter periods.
That trend is reflected by Greek owner Costamare achieving a firm rate on one of its larger vessels. The 11,037-TEU Cape Tainaro (built 2017) is understood to have been fixed by Evergreen Marine Corp for 11 to 13 months at $27,000 per day, according to unidentified brokers.
The rate is a vast improvement on levels of just $18,900 to $19,000 per day obtained by the Cape Tainaro and four sister ships in March and April following their delivery from Hanjin Heavy Industries' Subic Bay facility in the Philippines.
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