Old shipping containers are locking in long-term leases

Leases & LoansMoney Matters
Written By Jennifer Joslyn

🚢 Shipping firms are recognizing that there’s money on the table, and they aren’t afraid to grab it.

There is a shortage of new cargo vessels and aging container ships are locking in long-term leases with sky-high freight rates. A major slowdown in new shipbuilding has hindered a positive result regarding the surge in demand for consumer goods during the pandemic. Ship owners that exist in this once-in-a-generation bull market aren’t rushing to make new ships… they want to capitalize on what already exists in their inventory.

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Jennifer Joslyn
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