Charter rates up on tonnage demand

The charter market went into overdrive last week, with fixture activity, rates and periods all rising in tandem. Carriers’ tonnage demand is still not fully covered despite the high level of new ship deliveries as the surging freight market is  supporting the rise in charter rates in all segments except for the 1,100 teu and smaller sizes. The composite charter index is up 10% YoY, with the larger sizes enjoying much higher increases. CMA CGM, Hapag-Lloyd, Maersk and SeaLead were the most activ