The auto trade, already grappling with a international scarcity of microchips, is now seeing one other supply of supply-chain concern: a scarcity of ships.

Earnings for freighters that transfer autos and industrial machines throughout the globe have surged to about $80,000 a day (all figures in USD), the best in knowledge since not less than 2000, in keeping with Clarkson Analysis Companies Ltd. a unit of the world’s largest shipbroker.

That represents one other small headwind — seaborne commerce in vehicles is a fraction of total exercise — for the trade. The likes of Ford Motor Co. and Common Motors already painted a dark outlook in latest months, pushed primarily by semi-conductor shortages impeding manufacturing.

However a stagnating vessel fleet alongside a gentle restoration in demand for the reason that nadir of Covid-19 has now spurred file charges for ships that carry as many as 6,500 vehicles throughout the globe. Over a 60-day voyage that might indicate about $740 per automotive, up about fivefold since earlier than the pandemic, in keeping with Bloomberg calculations based mostly on Clarkson knowledge.

The surge has some firms fearful about with the ability to safe ships to haul autos, in keeping with Georg Whist, CEO of Gram Automotive Carriers ASA.

“Individuals are involved they will’t pay money for tonnage,” he mentioned by telephone. “It’s underinvestment for a few years, and when demand remains to be there, the day comes when it pops.”

Automobiles are usually carried on so-called roll-on roll-off ships, most of that are specialist carriers. The U.S., Europe and UK are among the many greatest import markets, in keeping with Clarkson. Whist mentioned a rising portion of exports are coming from China, additional stretching the fleet.

Gram mentioned this week that it signed a five-year deal to rent out certainly one of its vessels at a mean fee of $60,000 a day.

That’s an indication of at present “mind-boggling charges,” Fearnleys Securities analysts together with Oystein Vaagen wrote in a be aware. Different listed house owners, together with Hoegh Autoliners ASA and Wallenius Wilhelmsen ASA, have additionally climbed over the previous few days.