Hapag-Lloyd agrees to charter vessels

Hapag-Lloyd has agreed upon a three-month charter commencing in January of the 4,253 teu Synergy Oakland for an eye-watering $130,000 a day from Greek non-operating owner Euroseas.
The carrier’s in-house charter desk will no doubt have baulked at a charter rate some $50,000 a day above the current bull market, but was clearly unable to fix an alternative to cover a vital commitment. It will now pay the owner some $11.5m for the duration of the time charter.
Putting the Hapag-Lloyd fixture into context of today’s market, Euroseas paid just $10m for the Synergy Oakland in November 2019, as part of an en-bloc purchase and, four years ago, owners of similar panamax ships would have been happy to achieve $8,000 a day for a three-month charter.