Pacific International Lines (PIL) has secured period employment of three 13,092-teu container ships from Greek tonnage provider Danaos.
The trio has been forward-fixed for three-year charters starting next year, according to charter market sources.
Rates have not been confirmed but are said to be in excess of $50,000 per day.
Danaos is listed with five vessels of this size built in 2012. They are currently on charter to South Korean operator HMM at just under $65,000 per day.
PIL is expected to take three of the vessels after their charters expire between February and June 2024.
The neo-panamaxes will be the biggest ever operated by PIL, which is the world’s 12th-largest liner operator, according to Alphaliner.
PIL reported a 15% increase in profits to $3bn last year, the analyst added, with revenues of $6.1bn, up from $5.8bn in 2021.
That marked a dramatic recovery since posting losses of more than $44.7m in 2020.
Danaos boost
PIL has trimmed its fleet in recent years and operates a capacity of 296,000 teu, down from 400,000 teu in 2020, according to Alphaliner.
Trades with Africa and Latin America represent 61% of its total trading capacity, it said.
The Middle East/India subcontinent represents its third-largest trade area, with 18% of the fleet dedicated there.
PIL is slated to take delivery between August 2024 and January 2025 of four LNG dual-fuel newbuildings of 14,000 teu that it ordered at Jiangnan Shipyard in 2022.
It also has four 8,000-teu LNG dual-fuel vessels for delivery in June 2025 and March 2026.
The latest charters provide a further boost for New York-listed Danaos.
The shipowner is seen in a positive light by analysts at Fearnley Securities, which today reiterated a “buy” rating on its stock.
In other charter deals, three 7,000-teu newbuildings for delivery to XT Shipping of Israel are reportedly fixed for three years to Cosco Shipping at rates said to be about $40,000 per day.
Sixteen newbuildings of 7,000 teu have found long-term charter employments this year, indicating the popularity of this new design, Alphaliner said.
