Car Carrier earnings Projecting USD 150k Per Day in 2023Using VesselsValue data, Dan Nash, Head of RoRos, explores the current trends in the Car carrier market. The article highlights forecast rates across asset types, focusing on S&P activity and supply demand for this growing sector. You can read the full piece here. "The Car Carrier market went into overdrive in mid August, after Nissan extended their 100,000 USD/Day rate on Lake Geneva (6,178 CEU, Jan 2015, Imabari) just four weeks into the deal. To put this into perspective, it is 174% higher than the January index only nine months previously, up a staggering 488% compared to December 2019 based on a one year 6,500 CEU Time Charter.Short PCTC supply got seriously squeezed in September as ships faced heavy delays at major ports in Northwest Europe, most notably Bremerhaven. Main culprits included Don Carlos (7,194 CEU, July 1997, Daewoo), taking 11 days to complete cargo operations in Bremerhaven. Followed by Eukor’s Morning Cecilie (6,502 CEU, Dec 2008, Imabari) exiting Bremerhaven on the 19th of September after a 10 day port stay.Looking at macro demand data, global light vehicle sales are down -3.8% versus 2021 due to sluggish selling rates in North America and Europe, and ongoing supply chain issues (LMC Automotive). China continues to lead the recovery, projecting 37 mil units sold this year, a massive c.38% of the total light vehicle sales market..." |
WORLD SHIPPING
06 October 2022 - 19:47
Car Carrier Earnings Projecting USD 150k Per Day in 2023
Using VesselsValue data, Dan Nash, Head of RoRos, explores the current trends in the Car Carrier market.
WORLD SHIPPING
06 October 2022 - 19:47
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