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Alphaliner says at least 100 panamax containerships must be scrapped before charter rates return to break-even. Charter rates of about $4,000 to $4,350 a day are below operating costs, and the fleet has 563 vessels with 68 laid up.
Overcapacity followed the Panama Canal expansion, which allowed larger ships into the trade.
Container shipping overcapacity affects freight costs and logistics but does not directly move grain or feed commodity prices. The story is relevant only as background on global shipping economics.
gcaptain.comThe LoadstarFeb 1, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
