Box Ships has confirmed details of its two latest fixtures, which the NYSE-listed company said shows improving freight rates for panamax containerships.

The panamax Box Trader (3,426dwt, built 2010) commenced a timecharter to Zim Integrated Shipping Services on Aug. 3 for a period of 50 to 115 days. The gross daily rate was fixed at US$12,400.

The vessel was previously earning US$8,000 daily on an eight-month timecharter to Hapag Lloyd, which expired in mid-May this year.

CMA CGM has extended its existing timecharter of CMA CGM Kingfish (5,095dwt, built 2007) by five to eight months at a gross rate of US$15,000 per day. The extension period, which commenced on Aug. 15, will terminate between January and April 2016.

The boxship was earning US$7,000 per day during the second quarter of 2014.

The two vessels were fixed at rates that were 46% and 63% higher than their previous charter contracts, which Michael Bodouroglou, chairman, president and CEO of Box Ships, said "illustrates the continued market improvement".