en.Wedoany.com Reported - Daily charter rates for modern car carriers are approaching the $100,000 mark, driven primarily by growing demand from China's electric vehicle export boom.

According to data from vessel valuation firm VesselsValue, the average daily charter rate for car carriers stands at approximately $67,000, while actual rates for newbuildings are higher. Last week, Atlas EMF, a joint venture between Greek shipowner Atlas Maritime and European Maritime Finance, chartered out the 7,000 ceu newbuilding "Clean Star," currently under construction at CIMC Raffles shipyard, to an unnamed Chinese operator at $80,000 per day for a two-year period. The vessel is expected to be delivered this month. Atlas CEO Leon Patitsas stated that the agreement reflects the vessel's quality, leading operators' confidence in the fleet, and the strong fundamentals of the global car carrier market.

In March this year, another 7,000 ceu newbuilding from Atlas EMF, the "Eco Star," was chartered to Wallenius Wilhelmsen at $53,000 per day for one year shortly after delivery. The significant upward trend in rates within five months highlights the strengthening demand for modern car carriers. SAIC Anji Logistics, the shipping subsidiary of SAIC Motor, recently chartered the 7,060 ceu car carrier "Lake Rotorua," a newbuilding from Eastern Pacific Shipping, at $90,000 per day. The vessel was chartered shortly after delivery from China Merchants Jinling Shipyard (Nanjing).

Daily car carrier rates peaked at $100,000 in August 2022, before returning to normal levels in late 2024 due to a record number of newbuilding deliveries. Now, the rapid growth of China's automobile exports is once again driving up capacity demand. According to data from the China Association of Automobile Manufacturers, automobile exports approached 5.1 million units in the first half of the year, up 65.3% year-on-year; new energy vehicle exports exceeded 2.3 million units, more than double last year's figure. June alone saw exports of 1.037 million units, up 75% year-on-year, marking the first time monthly exports surpassed 1 million units.

Amid tonnage tightness, older car carriers are also commanding substantial rates. SFL Corporation's 6,500 ceu vessels "SFL Composer" and "SFL Conductor," built in 2005 and 2006, were chartered to Cosco at approximately $40,000 per day for a 34-month period.

The capacity demand has also reignited orders for new car carrier newbuildings. Only 9 vessels were ordered last year, but at least 40 have been ordered so far in 2026. Global Car Carriers, under MSC, has ordered 10 LNG dual-fuel car carriers, including six 8,600 ceu and four 7,000 ceu vessels, scheduled for delivery between 2028 and 2030. The 8,600 ceu vessels will be built by China Merchants Heavy Industry (Yizheng), while the remaining four are evenly allocated between CMHI Weihai and Guangzhou Shipyard International.

The rising market has also attracted new entrants. China-based Zhongnan Shipping has ordered four 5,700 ceu car carriers at Jiangsu Runyang Shipbuilding, with deliveries planned between 2028 and 2029.