Containership docking Port of Long Beach. Image credit: Port of Long Beach
If the container shipping market is showing signs softening, ship charter rates have yet to receive the memo.
The HARPEX index, which tracks pricing in the charter market for containerships, has risen to a new all-time record of 4,258 points.
The chart below shows the overall index performance over the last 24 months:
The HARPEX is published weekly by German shipbroker HARPER PETERSEN and reflects worldwide container ship charter market pricing for 6-12 months fixture periods based on actual weekly fixture reports. The index provides rate assessments on nine classes of ships, all of which are either at or setting new records.
The liner shipping industry has staged a historic comeback from early pandemic lows as consumer spending on goods picked up, driving demand for container ship tonnage. Since a low of 412 points set in June 2020, the overall HARPEX has now increased over 10X, coinciding with soaring freight rates that have hit business’ bottom lines and contributed to inflationary pressure.
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