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Market Report

Container update 22nd February, 2005


The chartering activity during February has to be split in two different parts. We have seen an increased activity before the chinese new year holidays started whereas the market was very calm during and sofar also after the chinese new year holidays.

The question is whether the activity will considerably improve at all in the next couple of weeks looking at the very limited number of vessels available for charter and even more so how the rates are going to devlop further ?Looking at the latest fixtures one apparently needs to differentiate between ship's sizes. The segment between 1300 and 1900 TEU seems to stagnate for the time being at present levels whereas the smaller size around 1000 TEU as
well as the bigger ships in excess of 2000 TEU still seem to have some upward potential. Whether this trend will remain or be revised or turned around is the question to be answered during the next couple of weeks respectively months.

Above 2000 TEU it were the taiwanese Charterers Yang Ming who showed the most appetite for ships. YML took Doehle's baby panamax "Amaranta" for a period of 12 yrs at a rate of USD 26,450 with delivery in 2007 as well as 2 Conti N/B's with delivery in 2006 for a shorter period of 5 yrs at a rate of USD 36,000. Interesting to watch in the bigger segment is also the growing tendency of Charterers to relet tonnage for even longer periods. A good example is the relet of the 2500 TEU geared "Wehr Bille" from CSAV to NYK at a rate of usd 30,500 net for a period of abt 42 mos.

As mentioned above in the size between 1300 and 1900 TEU Owners seem to be happy accepting last done's at the moment which is documented by the fixtures of three Doehle controlled CC 1600 types for abt 4 yrs to Maersk Sealand at a rate in line with the last done for comparable ship.

Around 1000 TEU the rates are further slightly improving. Yang Ming Line paid a notable rate of USD 15,950 for a period of 4 yrs for the gearless "Cape Canet", which is a couple of 100 dollars more a sistership obtained a couple of weeks ago. CMA CGM accepted to pay a rate of USD 16,350 for the CV 1100 N/B "Karin Rambow" for a period of 4 years which is also slightly above last done. There are also expectations that other newbuildings of this popular design will get committed further forward in the near future, even into 2006.


 
 
 

FIXTURES

Gearless

Amaranta '03 Yang Ming Line
58,254 dwt 4370 teu (3100 at 14ts)
350 reefers / 25,0kn on 160,0ts
12 yrs ww trade
26,450
   
2 x Conti N/B's ex Hyundai '06 Yang Ming Line
51,000 dwt 4300 teu (2810 at 14ts)
600 reefers / 24,0kn on 133,6ts
5 yrs ww trade
36,000
   
2 x Cido N/B's ex Hyundai Mipo '08 PIL
38,200 dwt 2824 teu (2029 at 14ts)
586 reefers / 23,0kn on 96,62ts
8 yrs ww trade
17,700 net
   
Sea Arrow ' 87 KMTC
29,639 dwt 2098 teu (1700 at 14ts)
110 reefers / 18,0kn on 47,0ts
45 days feast trade
21,750
   
Kuo Hung '97 NYK
18,595 dwt 1471 teu (1150 at 14ts)
42 reefers / 18,0kn on 37,0ts
38 mos ww trade
23,950
   
Mito Strait '05 Sinotrans
13,950 dwt 1118 teu (700 at 14ts)
240 reefers / 20,0kn on 37,0ts
3 yrs feast trade
16,000
   
Cape Canet '99 Yang Ming Line
10,935 dwt 824 teu (590 at 14ts)
80 reefers / 18,0kn on 29,0ts
ext 48 mos feast trade
15,950
   


Geared

Wehr Bille '02 NYK
33,650 dwt 2474 teu (1890 at 14ts)
400 reefers / 22,0kn on 74,0ts
42 mos ww trade (relet fm csav) as of dec
30,500 net
   
Glory '96 KMTC
30,447 dwt 2080 teu (1665 at 14ts)
300 reefers / 21,0kn on 72,0ts
2-3 mos feas trade (relet fm clan)
29,000
   
6 x C.P. Offen N/B's ex Hyundai Mipo '07/08 Hamburg-Sued
28,220 dwt 1819 teu (1300 at 14ts)
354 reefers / 22,0 kn on 85,0ts
5 yrs ww trade
19,000 net
   
Sagittarius ' 01 opt DAL
23,051 dwt 1726 teu (1156 at 14ts)
300 reefers / 19,6kn on 55,0ts
opt 12 mos cont/africa trade
17,000
   
Northern Happiness '94 extn Maersk Sealand
22,273 dwt 1709 teu (1177 at 14ts)
270 reefers / 19,0kn on 43,0ts
4 yrs ww trade
27,225
   
Fabian Schulte '97 Maersk Sealand
22,015 dwt 1608 teu (1086 at 14ts)
200 reefers / 21,0kn on 60,5ts
opt 12 mos feast trade
15,000
   
Francisca Schulte '98 Maersk Sealand
22,020 dwt 1608 teu (1086 at 14ts)
200 reefers / 21,0kn on 60,5ts
opt 12 mos feast trade
15,000
   
Atlantic Trader '96 (CC 1600 Type) Maersk Sealand
22,250 dwt 1608 teu (1124 at 14ts)
200 reefers / 21,0kn on 59,0ts
abt 50 mos ww trade
27,280
   
Trave Trader '94 (CC 1600 Type) Maersk Sealand
22,525 dwt 1608 teu (1124 at 14ts)
200 reefers / 21,0kn on 60,0ts
4 yrs ww trade
27,280
   
Ocean Trader '96 (CC 1600 Type) Maersk Sealand
22,250 dwt 1608 teu (1125 at 14ts)
200 reefers / 21,0kn on 60,0ts
4 yrs ww trade
27,280
   
Hilde A ' 05 Maersk Sealand
22,100 dwt 1529 teu (1145 at 14ts)
19,0kn
48 mos ww trade
27,000
   
Margharita A ' 05 Maersk Sealand
22,100 dwt 1529 teu (1145 at 14ts)
19,0kn
48 mos ww trade
27,000
   
Nordlake '94 Yang Ming Line
22,450 dwt 1524 teu (1115 at 14ts)
120 reefers / 20,0kn on 49,5ts
opt 36 mos feast trade
22,450
   
Ulsnis '93 Costa Cont. Lines
20,150 dwt 1388 teu (1014 at 14ts)
150 reefers / 18,5kn on 44,0ts
4 years ww trade
27,000
   
Courier '95 Hapag Lloyd
20,140 dwt 1388 teu (1014 at 14ts)
150 reefers / 19,0kn on 46,0ts
24 feast trade
28,000
   
Comandante '83 Asiatic Shipping Services
25,855 dwt 1378 teu (1050 at 14ts)
64 reefers / 14,0kn on 27,5 ts
12 mos feast/pg trade
19,750
   
Mizar ' 05 Swire
21,763 dwt 1308 teu (1170 at 14ts)
80 reefers / 17,0kn on 28,0ts
5 yrs pacific trade
private
   
Henriette Oldendorff '92 Swire
21,763 dwt 1308 teu (1170 at 14ts)
80 reefers / 17,0kn on 28,0ts
5 yrs pacific trade
private
   
Mando '99 Costa Cont. Lines
17,250 dwt 1174 teu (815 at 14ts)
120 reefers / 20,0kn on 52,5ts
ext 4 yrs ww trade
private rate
   
Mareno '99 Costa Cont. Lines
17,500 dwt 1174 teu (815 at 14ts)
120 reefers / 20,0kn on 52,5ts
4 yrs ww trade
private rate
   
Cape Santiago ' 01 Hanjin
18,402 dwt 1121 teu (820 at 14ts)
179 reefers / 19,0kn on 41,5ts
4 yrs ww trade
18,000
   
N/B Vega Fynen '06 Sinotrans
13,760 dwt 1118 teu (700 at 14ts)
220 reefers / 19,5kn on 36,0ts
5 yrs ww trade - dely june 2006
13,000
   
Karin Rambow ' 05 CMA CGM
13,760 dwt 1100 teu (700 at 14ts)
220 reefers / 19,5kn on 41,0ts
4 yrs ww trade
16,350
   
Dubai World ' 90 Heung A
15,165 dwt 1048 teu (752 at 14ts)
100 reefers / 18,5kn on 36,0ts
3 yrs feast trade
18,000
   
Delmas Marula (RC Rickmers) '92 CMA CGM
12,583 dwt 1012 teu (642 at 14ts)
90 reefers / 17,0kn on 30,0ts
8 mos ag/ioc trade - sublet fm delmas
18,500
   
Arminia '94 Hamburg-Sued
12,575 dwt 1012 teu (636 at 14ts)
90 reefers / 17,5kn on 29,0ts
12 mos caribs trade - as from oct 05
18,700
   
Felicitas '84 Maersk Sealand
14,120 dwt 1006 teu (690 at 14ts)
80 reefers / 17,0kn on 30,0ts
36 mos ww trade
16,100
   

This report reflects information given in good faith to the best of our knowledge, but without guarantee.