Market Report

After months of inactivity there have been a few new requirements for 3000 teu plus sizes. MSC has led the way picking up a good specification 3500 teu Santa Celina in the low usd 7000s for period, as well as fixing a number of ships for trips off the continent to Asia a low rates. Other charterers such as MISC and SCI are also in the market for these sizes.

The 2000-3000 teu sizes remain the most inactive as charterers continune to redeliver back to independent owners the vast majority of ships in these sizes. Operators have been heard to replace these ships with their own sometimes larger 4000 teu ships, therefore optimising the use of their own fleet. 

The 1000-2000 teu sizes remain perhaps the most active. Geared ships are still finding employment quicker than their gearless sisters, as operators continue to maintain their service network and have to rely upon charter market ships to fulfill these requirements. 1100 teu geared vessels in Asia are fixing around the usd 4000 mark, however, there still premiums to be had in the Med and in the Caribs for good quality geared tonnage.

Otherwise, we are beginning to see more modern ships circa late 1980s head to the scrap yards. It is rumoured even early 1990s built ships are being discussed for scrap and this will begin to help to redress the huge demand / supply imbalance that hangs over the container market going forward.