Maersk, the world’s leading container shipping giant, has renewed its charter agreement for a 20-year-old midsize container ship, the GSL Christel Elisabeth. This move comes amidst a period of high demand for container vessels, causing charter rates to surge.
The specific details of the renewed charter, such as the rate and duration, haven’t been disclosed by either Maersk or the vessel’s owner, Global Ship Lease. However, it’s known that Maersk was previously paying $13,250 per day for the ship on a charter expiring sometime between Q3 2024 and Q1 2025.
This decision to extend the lease on an older vessel reflects the current state of the container shipping market. The strong demand for container ships due to factors like global supply chain disruptions and increased consumer spending has put pressure on available capacity. This has led shipping companies like Maersk to seek out alternative solutions, including utilizing older vessels, to meet their cargo transportation needs.