TS Lines recovers investment through record vessel charter

The company confirmed to Container News  that the Republic of the Marshall Islands (RMI) flagged TS Manila was chartered to Chinese liner operator BAL Container Line for US$150,000 per day for 40 to 55 days.

The minimum hire period will enable TS Lines to recover the amount it paid to buy the ship from Osaka Asahi Kaiun last September.

The reported charter amount is way beyond the daily average hire of US$59,909 for 2,500TEU ships, based on the Hamburg Shipbrokers’ Association’s VHSS Containership Timecharter, which shows that charter rates for such vessels have risen seven-fold year-on-year.

BAL Container Line recently entered the Transpacific and Asia-Europe trades and is said to have paid record rates for recent fixtures as charter costs soar through the roof amid the red-hot shipping market.

In June, BAL Container Line reportedly chartered the 5,060TEU MSC Maria Clara for US$135,000 per day for 80 days. The following month, the company is said to have fixed the 5,047TEU CSL Santa Maria from Cyprus Sea Lines for U$160,000 per day for three months.

Source: Container News