Greek boxship owner Danaos has warned that the continued delivery of ultra-large container vessels (ULCVs) for deployment on the Asia-Europe tradelane, and the subsequent cascading of smaller ships into other routes is negatively impacting both freight and charter rates.
Announcing the New York Stock Exchange-listed company’s third-quarter results today. chief executive Dr John Coustas said the demand-supply fundamentals of the container market “remained weak”,
“As the super post-panamaxes continue to be delivered and deployed in the Europe-Far East route, the capacity being cascaded inevitably creates overcapacity in the remaining routes, adversely affecting box freight rates and charter rates. Demand is not helping either, as world
