Market Report

Former Reports:

Container update 23rd January, 2009

During the past weeks the number of idle container capacity around the globe increased to roughly 675.000 TEU according to some estimates, equating to almost 6% of the current market capacity. We expect these number to grow even further in the weeks to come with most of the Asian market celebrating the Lunar New Year Holidays and few new requirements expected in the market. Liner companies continue to try and re-shuffle their services and adapt to the new trading conditions. One notable piece of news was that CSAV has decided to close its Asia / Europe service, although this was thought to be a temporary situation.

The 2000 teu plus sizes are particularly quiet with an absence of any new requirements. Many of the Liner Companies in fact have too much tonnage themselves in these sizes. There is activity in the sub 2000 teu sizes, particularly for modern high spec tonnage. The reefer business ex South America and Caribs is absorbing some container tonnage. The "Shanti" (1350 TEU nom, 925 TEU @ 14ts, grd, 449 reefers) has been taken by Hamburg Sued for a period of 6 months at a rate just below USD 6.000 (the ship, however, needs to be positioned half-way around the globe from the Mid east to ECSA to deliver into this C/P). In addition to that, the same Owner managed to fix a sistership for a seasonal fruit business for an US account.

In general we do not believe the charterrates will recover in the near future, but we do have hope for increased chartering activity once the Asian players are back from the Lunar New Year Holidays. On that note, we wish you all a Happy Lunar Year of the Ox.

FIXTURES

Gearless

Algerian Express´95	Kanway
18585 dwat 1471 teu (1150 @ 14ts) 19kn on 40ts 4 mos	4500

Yellow River´07	QNNC
13760 dwat 1118 teu ( 700 @ 14ts) 19,5kn on 36ts 4 mos	5900

Fesco Voyager´98	KMTC
15231 dwat 1060 teu (774 @ 14ts) 18,5kn on 36ts 6 mos	4750

Stadt Ratzeburg´07	Winland
12800 dwat 1049 teu (671 @ 14ts) 18kn on 33ts 8 mos	5250

Lantau Beach´07	Italia Marittima
12818 dwat 1049 teu (655 @ 14ts) 18kn on 33ts 3 mos	4750

Eemsdijk´07	HSUED
12400 dwat 869 teu (602 @ 14ts) 18,5kn on 34 ts 4 mos	4950

Blue Ocean´89	SITC
14900 dwat 850 teu (702 @ 14ts) 17,5kn on 26ts 3 mos	4500

Geared

Kuo Hsiung´93	CNC
18154 dwat 1275 teu ( 1120 @ 14ts) 17kn on 31,5ts 1 mos	7600

Andre Rickmers´98	CMA CGM
30781 dwat 2226 teu (1748 @ 14ts) 20,5kn on 80ts 8 mos	7000

Violetta´07	DAL
22200 dwat 1856 teu (1285 @ 14ts) 21kn on 67ts 12 mos	6400

Melbourne Strait´08	NDAL
25826 dwat 1795 teu (1312 @ 14ts) 20,5kn on 60,4ts 4 mos	5750

Hansa Lauenburg´06	Sinotrans
23975 dwat 1740 teu (1330 @ 14ts) 21kn on 64 ts 4 mos	6450

Gläoecksburg´08	CSAV
23351 dwat 1732 teu (1282 @ 14 ts) 21kn on 64 ts 4 mos	6000

Hansa Centurion´98	CMA CGM
21473 dwat 1645 teu (1180 @ 14ts) 19kn on 49ts 6 mos	5900

Hansa Caledonia´98	CMA CGM
21563 dwat 1645 teu (1180 @ 14ts) 19kn on 49ts 6 mos	6000

Diane A´08	NDAL
22100 dwat 1604 teu (1172 @ 14ts) 20kn on 52ts 2 mos	6000

Balkan´07	MSL
16920 dwat 1304 teu (850 @ 14ts) 19kn on 45ts 3 mos	5000

Arsos´07	MSL
18700 dwat 1296 teu (957 @ 14ts) 19,6kn on 45 3 mos	5100

CEC Star´93	Italia Marittima
12184 dwat 1139 teu (709 @ 14ts) 18,4kn on 42ts 6 mos	4800

Jork´96	MSL
14700 dwat 1122 teu (765 @ 14ts) 19,5kn on 44ts 2 mos	4750

Frisia Inn´07	MEL
13760 dwat 1118 teu (700 @ 14ts) 19,56kn on 36ts 6 mos	5250

Asian Island´03	MEL
13742 dwat 1118 teu (700 @ 14ts) 19,5kn on 36ts 6 mos	5250

Libra J´99	Caribbean Feeder
14174 dawt 1116 teu (760 @ 14ts) 19kn on 39ts 3 mos	5000

Spica´08	Seaboard
11800 dwat 966 teu (604 @ 14ts) 18,9kn on 38,5ts 12 mos	6000

Medbaykal´07	KMTC
12000 dwat 957 teu (604 @ 14ts) 18,5kn on 37ts 4 mos	4500

Analena´06	MSL
11390 dwat 862 teu ( 585 @ 14ts) 18kn on 33,3ts 8 mos	4200

Suzanne´94	MSL
10747 dwat 841 teu ( 553 @ 14ts) 17,5kn on 29ts 8 mos	4000

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