Braemar

Red Sea challenges boost charter rates

Analysts and brokers are continuing to report charter rates spiralling upwards as carriers look to plug gaps in their diverted Asia to Europe services as rates, which were falling decisively in early December, make a rapid rebound.

Linerlytica’s charter index increased 5% last week with the larger sizes getting the biggest boost as supply was limited.

“Maersk and CMA CGM have been particularly active in recent weeks, along with smaller carriers such as SeaLead and Tailwind that have been keen to...

https://container-news.com/red-sea-challenges-boost-charter-rates/

Braemar sees looming crisis in feeder sector

Demand for feeders is rising mainly as a consequence of the Red Sea crisis which has had a knock-on effect on demolition, but ultimately the ageing feeder and regional fleet will need replacing.

Following the Houthi Movement’s attacks on commercial shipping at the Bab al-Mandeb strait major liner operators have diverted their services around the African Cape, but this means ships no longer transit the Mediterranean, requiring cargo to be feedered to southern European destinations.

That has seen...

https://container-news.com/braemar-sees-looming-crisis-in-feeder-sector/

Demolition to stay in the doldrums

Any expectation that capacity will be removed from the market over the coming year is being scotched by market analysts who say that the age profile of vessels points to depressed scrapping over the coming year.

Only 82 boxships have been scrapped to date in 2023, amounting to just 145,50 TEUs, which has been more than offset with 40 ships of 247,441 TEUs delivered over the last 30 days alone, according to an analysis by Linerlytica.

This is a significant increase on the 23 ships demolished in...

https://container-news.com/demolition-to-stay-in-the-doldrums/

Golden week holidays no barrier to rate index decline

Rates on the two major trades to Europe and the United States continued to slide even as workers begin their slow return to factories in China following the Golden Week holidays.

Last week’s shutdown of production in China included the Shanghai Container Freight Index (SCFI) which will resume publishing its rates this week with the headhaul Pacific rates already US$200/FEU below the last SCFI value.

Spot freight rates to Europe were set at a pre-Golden Week level of US$1,166/FEU but are now said...

https://container-news.com/golden-week-holidays-no-barrier-to-rate-index-decline/

Falling steel prices reveal glut of demolitions to come

The declining price of steel prices are a barometer for the rise in demolitions in the container shipping sector according to Braemar, the London-based shipbroker.

Given that scrapping prices were at a high in March 2022, at US$685ldt, as vessels delivered for demolition fell to a measly four ships in the year, prices have taken a plunge as the scrappage rate has accelerated in 2023 with demolitions expected to continue to increase into 2024 and 2025.

Current prices paid by scrapyards are...

https://container-news.com/falling-steel-prices-reveal-glut-of-demolitions-to-come/

Containership charter market has gone ‘bananas’, with 2M on a ‘fixing spree’

Ocean carriers are becoming increasingly confident that freight rates will remain high for years and are still chartering ships for lengthy periods at elevated daily hire rates last seen 16 years ago.
Alphaliner reports that Maersk has just fixed a trio of 4,600 teu handy classic panamax vessels for periods of 24 to 27 months at a staggeringly high rate of $35,000 per day. The consultant noted that the last time a …

The post Containership charter market has gone ‘bananas’, with 2M on a ‘fixing...

https://theloadstar.com/containership-charter-market-has-gone-bananas-with-2m-on-a-fixing-spree/

Braemar Pays Too Much for Naves Acquisition, Cites New Chief

  • BRAEMAR is set to integrate Hamburg ship finance unit Braemar Naves into its core London-based shipbroking activities.
  • The listed company’s new chief executive said his predecessor overpaid for the acquisition in 2017.
  • Deferred consideration still owed to the previous owners has been shunted back for more than four years.

A Lloyds List news report by David Osler highlights that Braemar is overpaid for Naves acquisition, according to the new chief.

Deferred consideration

Deferred consideration...

https://mfame.guru/braemar-pays-too-much-for-naves-acquisition-cites-new-chief/

Cruise Ship Repeats Its Record By Sailing Through 24m-Wide Passage

Fred Olsen’s cruise ship Braemar is set to repeat its record-breaking journey through the Corinth Canal and the latter which is just 24m wide at its narrowest point, says an article published in Mirror.

Past Records

The company made history in 2019 when Braemar broke the world record for being the largest ship ever to travel through the 6.4km long canal in Greece back in October 2019.

At the time it was such a tight squeeze that passengers onboard could reach out and touch the sides of the canal.

Th...

https://mfame.guru/cruise-ship-repeats-its-record-by-sailing-through-24m-wide-passage/

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