Ports

Feeder Newbuilds Set to Pressure Charter Rates in 2027

Feeder containership charter rates face headwinds in 2027 as newbuild deliveries flood the market, despite robust 2026 earnings. A 1,700 teu geared feeder commanded $33,750 per day for six to 12-month periods, up 19% year-on-year and more than double 2023 levels. Smaller 1,000 teu vessels fetched approximately $18,750 daily, up 10% annually. Major operators including Maersk and Hapag-Lloyd aggressively fixed tonnage through 2028. Maersk secured the 2,442 teu Meratus Jayagiri for $26,500 daily over two years, while Hapag-Lloyd locked the 1,930 teu Cape Bruno at $21,250 daily for three years. Namsung Shipping also fixed the newly built 3,318 teu Sheng Shun 62 at $37,000 daily for 23 to 25 months. Market strength stems from expanding intra-Asia trade, Middle East disruptions and port congestion. Charterers are booking sub-3,000 teu capacity for delivery as late as Q3 2027, with average fixture periods reaching approximately two years.