Despite post-COVID challenges, the company has doubled down on ship charters, notably growing its fleet to 15 ships with over 40,000 slots.

The growth is in response to extended delivery times from Asia to Europe via southern Africa, impacted by Houthi attacks in the Red Sea. Recent charters include the 6,881 TEU Kea, with a reported rate of $39,000, marking a 15% increase in just a month.

Hapag Lloyd's solution land route from Saudi Arabia to avoid Houthi Attacks Hapag Lloyd's solution land route from Saudi Arabia to avoid Houthi Attacks

Hua Joo Tan of Linerlytica notes the feasibility of specialized services like Tailwind's, with Asia-Europe rates ranging between $4,000 to $6,000 per FEU. The surge in charter demand is driven by challenges in the Red Sea and high cargo volumes on crucial routes.

Amid the pandemic supply chain challenges, popular retailers like Ikea, Walmart, and Home Depot chose to rent their own ships.