Ahead of the Marsoft Q1 26 release, Marsoft comments on the current containership market outlook

February 27, 2026

Containership charter rates leveled off at their corresponding September 2025 highs during 2025Q4 and in early 2026. Similarly, vessel prices leveled off or edged higher during the last 4 months, led by gains for vintage vessels, especially in the 2500 TEU size range.  Prices for young vessels did not change.

Generally, vessel demand remained strong in the fourth quarter despite the seasonal slack period, thanks to very robust containerized volumes (5.2% increase over year ago in 25Q4!).

Overall liner earnings adjusted lower but outperformed expectations, even though liner freight rates declined (nevertheless, Maersk and Japanese carriers ONE reported small losses in 25Q4).

Looking ahead into 2026, geopolitics should continue to dictate developments in the containership industry.  Rising tensions between the US and Iran have increased uncertainty in the Red Sea, with many shippers failing to secure insurance for their cargo for Red Sea routing and thus refusing to commit their shipments to the shorter Red Sea routes.

We now assume that full containerized trades via the Red Sea/Suez Canal will only be reinstated at the start of 2027, which is likely to provide a boost to charter rates and vessel prices in 2026.  A Red Sea reopening at the beginning of 2027 will challenge rates and prices; furthermore, the record pace of contracting activity in recent months, with a new emphasis on feederships in the 3000 to 5000 TEU range, will lead to higher fleet growth towards the end of the decade.