Container Ship Chartering Queue Extends into 2027!

Sea News – While Asian markets remain relatively quiet due to Lunar New Year holidays, the underlying container chartering market shows a surge of competition for the remaining available capacity. The latest New ConTex report (February 19, 2026) reveals that despite a seemingly stable index at 1,487 points, the tonnage shortage has reached a critical stage. In the large vessel segment, not only is all 2026 capacity fully booked, but the waiting list for chartering has already extended to openings in 2027. This structural supply bottleneck, combined with the unexpected announcement of a merger between shipping giants Hapag-Lloyd and ZIM, has created a strategic market environment where vessel owners hold absolute bargaining power due to the scarcity of their assets.

Strategic Shock: Hapag-Lloyd and ZIM Merger

While operational chartering activity experienced a calm week, the strategic sector of the industry was shaken by the merger announcement of Hapag-Lloyd and ZIM. Cited as the most significant event of the week, this move could reshape supply and demand dynamics on key trade routes in the coming months. Analysts view the merger as an effort to address structural supply constraints and optimize fleets in a market where access to new ships has become increasingly difficult.

Detailed Analysis: Feeder and Small Vessels (Below 3,500 TEU)

The small vessel segment continues to serve as the market’s driving force, with demand for lower tonnage remaining robust:

• 1,100 TEU vessels: These ships operate in a highly stable trading environment. The 6-month charter rate stands at USD 17,052 per day, reflecting an impressive 14% year-on-year increase.

• 1,800 TEU vessels: Modern vessels in this class are in highest demand, while older 1,700 TEU ships also easily secure 2-year contracts. The 6-month charter rate for these vessels is USD 33,305 per day, marking a 10.6% annual growth.

• 2,500 and 2,700 TEU vessels: Owners wield significant bargaining power in this segment, with ships booked for Q3 and even Q4 of 2026. The 12-month charter rate for a 2,700 TEU vessel remains stable at approximately USD 35,755 per day.

Supply Crisis in the Large Vessel Segment (Above 3,500 TEU)

In the large and Post-Panamax vessel segment, the market narrative is dominated by scarcity. Structural supply constraints are so severe that accessing available ships has become a major challenge:

• 5,700 and 6,500 TEU vessels: This class commands the highest rates, with the 12-month charter rate for a 6,500 TEU vessel reaching USD 66,622 per day.

• 2027 Capacity Pre-Booking: The shortage is so acute that negotiations for large vessels are now extending into 2027. This reflects charterers’ confidence in long-term market stability and their desire to avoid blank sailings in the coming years.

Statistical Overview and Periodic Fluctuations

The table below compares daily charter rates as of February 19, 2026:

The data indicates that while short-term rates in some segments, such as 3,500 TEU vessels, have seen minor declines (-1.3% YoY), smaller feeder segments continue to experience double-digit year-on-year growth.

Outlook for the Coming Months

The New ConTex report emphasizes that, given the ongoing vessel shortage and steady demand in key segments, any significant rate decline in the near term is unlikely. Even during holiday-related slowdowns, prices remain elevated due to a lack of alternative tonnage. For market participants, the keyword for the upcoming months will be “access to tonnage”, rather than “charter rates,” as competition for 2027 vessel bookings has already begun.