Ro-ro charter rates stand a good chance of remaining at their current levels, or exceeding them, in the next two years. In 3Q08 charter closures were few and far between, but a rebound in the last quarter livened up the market (see Figure 1). Though a subsequent influx of tonnage and a reduction in cargo flows have since stilted ro-ro activity and decreased charter rates, this now seems to have bottomed out. The prognosis is sunnier as a relatively low projected fleet growth (see Figure 2) is expected to keep rates at or above current levels for 2009 and 2010.
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