Container Rates Stall as Capacity Glut Offsets Hormuz Shock
Container spot freight rates on the main east-west trades largely flatlined this week as excess capacity and uneven demand failed to further spur recent pricing increases by carriers.
gCaptain sources have told us that Matson (NYSE:MATX), the Hawaii-headquartered container shipping firm will be signing a very significant order for LNG-powered containerships at a U.S. shipyard in the coming weeks.
There are a few yards under consideration and it seems BAE Systems, NASSCO and Aker Philadelphia are the front runners for the bid. Rumors that VT Halter is in the running are apparently nothing more than rumors.
Our sources indicate the order will likely be for two ships, plus options for three additional ~4,000 TEU containerships.
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