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Market Report

Container update 17th November, 2003


Despite the late autumnal weakening in volumes and a quiet last fortnight, there has been no headlong plunge in rates, but a more gradual decline reflecting the pre-Christmas period. This has been more pronounced within the medium sized sector than the larger size, but this former group has in itself seen the introduction of US Lines services which will help levels somewhat.

Although quieter than of late, the 2000teu+ sizes have continued to keep Charterers interested for longer term charters well in advance of redelivery dates, and will continue to demand steady enquiry to secure against the paucity of available tonnage. Indeed this last couple of weeks has seen MSC amongst others take a rumoured six vessels from the market for at least 2 years apiece, the James is now believed taken along with her sister the Joseph at $20,000 level, the America & Japan Senator are believed to have gone for similar period at slightly better than $21,000, and finally the Keelung and Hong Kong are further thought extended at similar levels. The demand and supply balance remains positive for Owners in this sector, even with the seasonal downturn effecting other sizes.

The medium size of about 1700teu has seen a continued rise in available tonnage, which attached to the drop in volumes, have seen levels dropping to about $16,000, and even with the arrival of US Lines having taken 2 and looking to take 5 vessels in total, expectations are that rates will continue to fall. Short period and round voyages that were achieving mid and even high 17’s are now showing under 16,500 as Owners accept reductions to bring vessels back into the market when rates have risen again in the New Year. Longer term prospects still remain positive, and although relatively few longer term fixtures were achieved, Owners continue to try to hold out as shown with the Samaria fixture with Costa at a reported $17,200.


 
 
 

FIXTURES

Gearless

Phoenix Tower Norasia
58,110dwt 4389teu (3100 at 14t) 24kn on 155 celled for 5 years wwide trade
usd 26,000
   
Saturn extn MSL
39,579dwt 3152teu (2278 at14t) 22kn on 94 celled for further 36 mos Feast/S African trade
usd 23,000
   
Keelung & Hong Kong extn MSC
43,900dwt 3032teu (2450 at14t) 22kn on 92 celled for further 24 mos
usd 22,000
   
Mare Africum extn PIL
34,630dwt 2959teu (2031 at 14t) 22kn on 82 celled for further 36 mos Feast/Aussie
usd 23,250
   
America & Japan Senator MSC
45,700dwt 2680teu (2415 at 14t) 19kn on 60 celled for 24 mos wwide trade
usd 21-22,000
   
Pommern & Potsdam extn PIL
38,650dwt 2672teu (2155 at 14t) 22kn on 95 celled for further 36 mos Feast/Mid East trade
usd 22,975
   
Merkur Star Zim
39,528dwt 2638teu (2020 at 14t) 20kn on 64,5 celled for 24-26 mos mos wwide trade
usd 21,400
   
Nordmed CMA/CGM
40,000dwt 2480teu (2080 at 14t) 19kn on 74 celled for 60 mos wwide trade
usd 17,400
   
Joseph extn MSC
41,500dwt 2480teu (2100 at 14t) 20.5kn on 72 celled for further 24 mos Cont/Aussie trade
usd 20,000
   
James MSC
41,500dwt 2480teu (2100 at 14t) 20.5kn on 72 celled for 24 mos wwide trade
usd abt 20,000
   
Howrah Bridge extn K Line
35,373dwt 2257teu (2037 at 14t) 20.5kn on 57.5 celled for 22-26 mos Feast/India trade
usd 19,000
   
CMC Pearl extn APL
36,377dwt 2245teu (2051 at 14t) 20kn on 57.4 celled for India/USEC round
private
   
Brazilian Express Dongnama
21,420dwt 1679teu (1230 at 14t) 21kn on 61 celled for 3-6mos Feast trading
usd 14,500
   
Masovia US Lines
22,800dwt 1550teu (1180 at 14t) 21kn on 61 celled for 12 mos Transpac trade
usd 14,900
   
Montania Dongnama
22,148dwt 1504teu (1180 at 14t) 21kn on 61.3 celled for 6 mos S Korea/Indon trade (relet)
usd 16,500
   
Cape Fox TS Lines
18,400dwt 1200teu (870 at 14t) 19kn on 41 celled for 12 mos Feast trading
usd 12,300
   


Geared

Heinrich S EMC
33,588dwt 2474teu (2080 at 14t) 21kn on 66kn celled for 23-26 mos wwide trade
usd 21,500
   
Nordfalcon CSCL
27,000dwt 2105teu (1465 at 14t) 20kn on 59 celled for 10 mos Feast trade
usd 18,000
   
Oder Trader MISC
30,300dwt 2008teu (1628 at 14t) 21.5kn on 72 celled for 12 mos Feast/Aussie trade
usd 19,700
   
Gluecksberg CSAV
26,152dwt 1797teu (1303 at 14t) 18kn on 40.5 celled for 1 Feast/WCSA round
usd 16,250
   
Samaria Costa
25,400dwt 1716teu (1295 at 14t) 21kn on 64 celled for 12 mos Cont/Caribs trading
usd 17,200
   
Iwato US Lines
24,376dwt 1613teu (1258 at 14t) 30kn on 53 celled for 12mos transpac trade
usd 16,500
   
Pacific Trader MSL
22,525dwt 1600teu (1124 at 14t) 21kn on 60.5 celled for 2 mos Algeciras/W African trade
usd 16,500
   
Estetrader MSL
20,150dwt 1452teu (1000 at 14t) 19kn on 46 celled for 2-3 mos Med/W African trade
usd low 13’s
   
Rio Branco PIL
20,500dwt 1300teu (1000 at 14t) 16.5kn on 30 mpp for 4-6 mos Feast/Mid East trade
usd 11,000
   
Rio Grande & Mellum HMM
20,500dwt 1300teu (1000 at 14t) 16.5kn on 30 mpp for 4-6 mos Feast trade
usd 11,100
   
Rahana extn CMA-CGM
16,500dwt 1122teu (817 at 14t) 18.5kn on 41 celled further 6 mos Med/Black Sea trade
for usd 10,750
   
Weser Trader Melfi
14,700dwt 1122teu (762 at 14t) 19.8kn on celled for 12 mos Med/Cuba trade
usd 10,900
   
Bernhard S ICL
14,454dwt 1104teu (765 at 14t) 19kn on 39 celled for 1 Cont/W African round
usd 12,000
   
Pirsos Melfi
12,920dwt 1096teu (675 at 14t) 20kn on 42 celled for 12 mos Med/Cuba trade
usd 10,250
   
Wild Eagle Yang Ming Line
13,300dwt 1022teu (690 at 14t) 17.5kn on 30t celled for 12 mos intra Asian trade
usd 10,000
   
Plovdiv Seaconsortium
14,000dwt 1020teu (666 at 14t) 16kn on 30.5 celled for 3/3 mos Med trade
usd 8200
   
Cape Brett CMA-CGM
10,200dwt 930teu (590 at 14t) 17kn on 26 celled for abt 30 days feast trade
usd 10,500
   
Sayinur Yardimchi MSL
9650dwt 875teu (480 at 14t) 16.5kn on 23 celled for 6 mos Med trade
usd 8300
   
Cape Charles New Econ Line
11,400dwt 834teu (600 at 14t) 18.5kn on 33 celled for 6 mos Feast trading
usd 9,450
   
Sirius Marguisa
11,640dwt 802teu (555 at 14t) 17kn on 34 celled for 6 mos Med/W African trading (relet)
usd 7300
   

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