Market Report

Former Reports:

Container update 24th August, 2006

As anticipated in our latest market report, the charter market activty over the last couple of weeks remained at a very low level. The charter market seems to take a deep breath and we are curious to see when activity will eventually pick up again. There are still not too many ships available with prompt positions, particularly in the bigger segement above 2000 TEU. Having said that, we are taking note of the fact that more and more operators are putting relets with autumn positions in the market, which are in combination with an increasing number of ships that are coming out of charter in the fall creating a considerable amount of ships that need to be absorbed by the market over the next couple of weeks. Therefore we will definetely need to see an increasing demand from operators in the remaining months of te year in order to keep the charter rates at present levels.

Above 2000 TEU CMA was more or less forced to take replacement ships for an 8200 TEU ship that went aground off Singapore. CMA was able to secure two relets from Maersk and CSAV for relatively short periods at relatively high rates of USD 38,000 respectively USD 40,000 due to the short periods. Noteworthy was also the fixture of the Aker 2700 type Northern Volition that fixed a remarkable rate of USD 22,950 for 36 monts to APL out of a relatively prompt position. The ship was actually fixed by Sinotrans until 2012 but Sinotrans redelivered her earlier for unknown reasons. In general one has to state that the segment in excess of 2000 TEU is the most stable one over the last couple of weeks / months

In the size between 1300 and 1900 TEU we have counted very few fixtures during the past weeks. Surprisingly a few owners were still able to achieve a period of 24 months at rates in line with last done. We do however believe that it might become inreasingly difficult to still achieve periods in excess of 12 or 18 mos during the remainder of the year.

In the smaller segment around 1000 TEU activity was also easing up a bit with rates being slightly under pressure, particularly in the caribs. CV 1100 Types are still being fixed in the mid 13's in the Pacific basin whereas comperative ships are achieving around usd 500 less in the Atlantic basin.

FIXTURES

Gearless

Maersk Montreal '89	CMA CGM (relet)
59,283 dwt 4206 teu (3143 at 14ts) 230 reefers / 22,0kn on 122,0ts 2 mos feast/europe trade	40,000

Mare Phoenicium '99	CMA CGM (relet)
52,267 dwt 4038 teu (3000 at 14ts) 430 reefers / 25,0kn on 144,0ts 7-8 mos ww trade	38,000

Conti Albany '97	Emirates Lines
34,790 dwt 2754 teu (2070 at 14ts) 300 reefers / 21,0kn on 95,0ts 36 mos ww trade	22,600

Northern Volition '06	APL
37,813 dwt 2742 teu (2126 at 14ts) 400 reefers / 22,5kn on 80,5ts 36 mos ww trade	22,950

Passat Spring '06	Hapag-Lloyd
39,300 dwt 2732 teu (2267 at 14ts) 500 reefers / 22,5kn on 85,5ts 24 mos feast trade	23,900

Mediterranean Express '85	APL
33,860 dwt 1923 teu (1583 at 14ts) 100 reefers / 18,0 kn on 49,0ts 40 days feast trade	private

OOCL Ambition '97	OOCL
23,850 dwt 1560 teu (1210 at 14ts) 200 reefers / 19,5kn on 49,5ts ext 12 mos feast trade	15,500

Cape Forby '06	Hanjin Shipping
20,250 dwt 1440 teu (1050 at 14ts) 174 reefers / 19,8kn on 48,0ts 12 mos feast trade	17,500

Cape Faro '06	Hanjin
20,250 dwt 1440 teu (1050 at 14ts) 174 reefers / 19,8kn on 48,0ts 12 mos feas trade	17,500

Cape Flint '06	KMTC
20,250 dwt 1440 teu (1050 at 14ts) 174 reefers / 19,8kn on 48,0ts 2 mos feast trade	17,750

Golden Bridge '84	Sinolines
22,014 dwt 1364 teu (1020 at 14ts) 124 reefers / 17,5kn on 41,5ts 12 mos feast trade	11,000

Bunga Delima '90	PIL
23,518 dwt 1289 teu (1200 at 14ts) 150 reefers / 16,5kn on 35,0ts 2 mos feast trade	16,500

Pacer '78	RCL
20,832 dwt 1284 teu (1029 at 14ts) 56 reefers / 18,0kn on 53,0ts 30 days feast trade	12,500

Geared

Santa Carolina '00	Maersk Line
45,500 dwt 3400 teu (2325 at 14ts) 800 reefers / 23,5kn on 113,0ts opt 12 mos ww trade	private

N/B Ulysses '06	CLAN
34,500 dwt 2490 teu (1875 at 14ts) 400 reefers / 22,2kn on 79,0ts 36 mos ww trade	22,250

Santa Isabella '86	APL
30,007 dwt 1742 teu (1527 at 14ts) 100 reefers / 19,5kn on 47,5ts 40 days se asia trade	19,400

H Freyburg '03	Maersk Line
23,058 dwt 1740 teu (1330 at 14ts) 296 reefers / 20,5kn on 58,0ts 12 mos feast trade	private

Sea Alfa '05	HMM (Relet)
23,351 dwt 1740 teu (1295 at 14ts) 300 reefers / 21,0kn on 64,0ts 6-8 mos feast trade	19,000

Vulkan '96	MOL
22,982 dwt 1728 teu (1120 at 14ts) 200 reefers / 20,0kn on 54,50ts 24 mos cont trade	17,750

Fritz Reuter '06	CLAN
23,600 dwt 1720 teu (1330 at 14ts) 300 reefers / 21,0kn on 64,0ts 24 mos feast trade	18,000

Ilse Wulff '93	ZISS
21,647 dwt 1661 teu (1100 at 14ts) 200 reefers / 20,3 kn on 52,0ts 2 mos feast trade	19,250

Suederoog '06	CMA CGM
16,920 dwt 1304 teu (850 at 14ts) 250 reefers / 19,5kn on 45,0ts 24 mos nth europe trade	14,500

Nordbeach '91	RCL
14,100 dwt 1158 teu (687 at 14ts) 125 reefers / 17,0kn on 31,0ts 3 mos feast trade	11,500

Nordcliff '91	KLINE
14,190 dwt 1158 teu (687 at 14ts) 125 reefers / 17,0kn on 30,0ts 11 mos feast trade	10,900

Caravelle '96	US Lines
14,643 dwt 1122 teu (758 at 14ts) 150 reefers / 19,0kn on 44,0ts 12 mos feast trade	13,300

SYMS Taishan '04	CMA CGM
13,760 dwt 1118 teu (700 at 14ts) 220 reefers / 19,6kn on 41,0ts 12 mos feast trade	13,725

Mondena '99	CMA CGM
12,048 dwt 1117 teu (693 at 14ts) 212 reefers / 19,0kn on 43,0ts 23 mos ww trade	12,100

Stadt Rendsburg '04	Seafreight
12,920 dwt 1096 teu (650 at 14ts) 200 reefers / 20,0kn on 43,0ts opt 12 mos caribs trade	12,450

Mare Hibernum '95	Sea Consortium
12,571 dwt 1016 teu (645 at 14ts) 113 reefers / 17,5kn on 30,5ts 12 mos feast trade	11,200

Vinashin Mariner '04	OEL
12,474 dwt 1016 teu (630 at 14ts) 100 reefers / 17,0kn on 29,0ts 6 mos feast trade	11,150

Elbrus '92	STX Panocean
17,493 dwt 975 teu (690 at 14ts) 50 reefers / 16,5kn on 32,0ts 10 mos ww trade	11,600

Herm Kiepe '97	Seafreight
13,059 dwt 969 teu (700 at 14ts) 270 reefers / 18,5kn on 42,5ts 12 mos caribs trade	12,900

Linge Trader '06	HASCO
12,500 dwt 957 teu (604 at 14ts) 250 reefers / 18,8kn on 37,0ts 12 mos feast trade	11,500

Cape Bonavista '92	CMA CGM
10,200 dwt 922 teu (590 at 14ts) 80 reefers / 17,0kn on 28,5ts ext 12 mos feast trade	11,000

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