This year looks to be a good year for panamax and post-panamax container ships, judging from the performance in the last few months of 2014, reported Splash, citing Michael Bodouroglou, CEO of NYSE-listed Box Ships Inc.

"2014 was the first year with a balanced market since 2008 and the second highest year in terms of tonnage being scrapped," Michael said in the company's financial results for the fourth quarter and year ended Dec. 31, 2014.

"There is an upward trend in time charter rates across all segments, the idle fleet remains at very low levels and there are no newbuilding slots before 2017," Michael went on to say.

39 panamax boxships were scrapped last year, plus a further 15 post-panamaxes, data from VesselsValue.com show. New deliveries have been low.

currently, only one panamax of over 4,000teu is in lay-up, data from Alphaliner display. Over 50 were laid up a year ago.

Michael said a confluence of economic factors will help the container market rally further and should increase asset values and improve charter rates.

This is exemplified in the recent fixture we concluded with the MSC Emma for one year at US$13,500 per day," Michael said. "The company has set the groundwork to benefit from these improved market conditions and approaches 2015 with cautious optimism."

The Athens-based company operates nine panamax and post-panamax boxships of between 3,400 and 6,590teu, all of which are operated on short- to medium-term timecharters. Six vessels' timecharters expire this year.

Box Queen (4,546teu, built in 2006) was timechartered to Evergreen Marine (UK) in January for a period of 10 to 20 days, at a gross daily charter rate of US$15,000. In February, the vessel was timechartered with Maersk Line for a re-positioning trip to Asia.

In addition, according to Ernst Russ Shipbroker, market prospects for Panamax containerships have improved substantially since last year's demolition push and the recent rally in charter rates is not just a flash in the pan, reported IHS Maritime 360.

Demand for this ship class by liner operators will remain relatively strong and should keep this charter market segment balanced. This is despite growing numbers of units being redelivered out of short-term employment in the transpacific trade, the Hamburg-based broker explained in its March maritime overview report.