Ports

Bangkokmax Charter Rates Jump 18% as Vessel Shortage Bites

Charter rates for Bangkokmax container vessels have jumped 18% annually to nearly $32,000 per day. A shortage of tonnage in the segment is driving the increase. The lack of newbuilding orders since 2023 has resulted in only three new deliveries through 2026. Surging intra-Asia trade demand has pushed resale values to $35 million-$45 million depending on vessel age and origin. Recent fixtures demonstrate the rate range: CMA CGM secured the 2006-built Elbella at $34,000 daily for 11-13 months. OOCL took the 2024-built Seatrade Peru at $25,000 daily for 23-25 months. Maersk Line fixed the 2014-built San Lorenzo at $25,000 daily for two years. Analysts project the shortage will persist through mid-2027, with only 12 deliveries remaining this year. The Bangkokmax orderbook stands at 252 vessels as operators race to secure capacity. HMM and Moon Keung Shipping lead recent acquisition activity.