Market Report

Former Reports:

Container update 20th April, 2010

Chinese ports reported a 22 pct increase in container throughput in the first quarter of 2010 compared to 2009 and even more significantly these figures topped the previous record figures in 2008. These good cargo volumes continue to stimulate demand on the chartering front with any large containership open receiving much attention from interested charterers. Rates continue to increase and fixtures for 4300 teu vessels have been concluded in the mid usd 15000s for 12 months and the few owners who have vessels coming open in the next couple of months are asking for anywhere from usd 17000 to usd 20000. In addition 24 month fixtures are rumoured to have been concluded at around usd 17500 to highlight the positive trend looking forward. Otherwise a number of 8000 teu ships were rumoured fixed from MISC to APL and CMA CGM. Rates were heard around the usd 24000 mark for 12 months.

The differential between the larger 4000 teu plus ships and smaller 3500 teu or 2800 - 2500 teu ships remains unusually large. 4300 teu ships are fixing at rates double that of the 3500 teu ships which is massive considering the relatively low rates of both sizes. The most recently fixed 3500 teu ships were done in the mid to mid high usd 6000s and the rates for the 2800 - 2500 teu sizes remain around mid usd 5000s for 6-12 months for prompt delivery for "normal" spec ships. There are feint signs that the rates for smaller sizes are beginning to move, especially in the 2800 teu sizes. The launching of the Containership Company's new service with 5 x 2800 teu ships has provided some impetus and 2800 teu ships with good reefer are now rumoured to achieve above usd 6000 for 12 months. Owners of standard 2800 teu ships are now now asking for above usd 6000 for June delivery which we expect them to achieve.

Activity in the 1700 teu sizes remains quite brisk and operators report difficulties in finding suitable ships for services, especially those services to East Africa. Owners who are willing to trade in this area are achieving premiums for their ships. Premiums are similarly on offer for those ships with breakbulk capability.

FIXTURES

Gearless

Santa Patricia´05	HH Süd
66800 dwat 5042 teu (3320 @ 14ts) 25kn on 165,2ts 24 mos	15000

Maersk Detroit´´05	HH Süd
66800 dwat 5042 teu (3320 @ 14ts) 25kn on 165,2ts 24 mos	15000

Northern Diversity´97	Hapag
45131 dwat 3606 teu (2610 @ 14ts) 23,5kn on 115ts 12 mos	6500

HS Haydn´10	CSAV
42183 dwat 3534 teu (2353 @ 14ts) 22,9kn on 120ts 12 mos	6500

Concord Bridge´98	CCNI
51805 dwat 3484 teu (??? @ 14ts) 24kn on 115ts 12 mos	7750

Katjana´01	TS Lines
42300 dwat 3108 teu (2400 @ 14ts) 22kn on 97,5ts 12 mos	5950

Tegesos´96	The Containership Company
38380 dwat 2890 teu (2172 @ 14ts) 22,5kn on 108ts 12 mos	5500

Jonni Ritscher´06	CMA CGM
22300 dwat 1678 teu (1285 @ 14ts) 21kn on 67,2ts 6 mos	4700

Cape Natal´95	APL
22148 dwat 1504 teu (1180 @ 14ts) 21kn on 61ts 6 mos	4700

Medpearl´09	MCC Transport
21800 dwat 1496 teu (1100 @ 14ts) 19,6kn on 45ts 6 mos	4450

Stad Gera´07	CMA CGM
18700 dwat 1296 teu (957 @ 14ts) 19,6kn on 45ts 6 mos	4600

Bahamian Express´00	Sinokor
21614 dwat 1230 teu (1230 @ 14ts) 21kn on 61ts 6 mos	4950

Alassa´03	CMA CGM
12920 dwat 1102 teu (675 @ 14ts) 20kn on 43ts 4 mos	4200

Avra´09	Sofrana
12800 dwat 1043 teu (655 @ 14ts) 18kn on 33ts 12 mos	7250

Annika´08	SITC
12800 dwat 1043 teu (655 @ 14ts) 18kn on 33ts 4 mos	5350

Geared

Cala Pancaldo´07	CMA CGM
37125 dwat 2785 teu (2170 @ 14ts) 22,5kn on 97,5ts 12 mos	5500

Classica´98	CMA CGM
30241 dwat 2102 teu (1640 @ 14ts) 21kn on 74ts 6 mos	4800

Sicilia´08	NDAL
25899 dwat 1795 teu (1312 @ 14ts) 20,5kn on 60,4ts 12 mos	5000

Konrad Schulte´05	CMA CGM
23500 dwat 17400 teu (1330 @ 14ts) 21kn on 64ts 12 mos	4600

Hermann Hesse´07	CMA CGM
23400 dwat 1740 teu (1330 @ 14ts) 20kn on 55ts 6 mos	4425

William Strait´09	APL
23351 dwat 1732 teu (1282 @ 14ts) 21kn on 64ts 6 mos	4700

Wilhelm Busch´07	CMA CGM
23665 dwat 1732 teu (1275 @ 14ts) 21kn on 64ts 12 mos	4600

Corvette´10	CNC
23400 dwat 1732 teu (1275 @ 14ts) 21kn on 64ts 6 mos	4600

Northern Happiness´94	COSCO
22273 dwat 1709 teu (1177 @ 14ts) 19kn on 43ts 6 mos	4300

Nadir´97	CMA CGM
25039 dwat 1647 teu (1250 @ 14ts) 21,5kn on 68ts 12 mos	4450

Arsos´07	CMA CGM
18700 dwat 1296 teu (957 @ 14ts) 19,6kn on 45ts 6 mos	4600

Alkin Klakavan´98	MSC
12238 dwat 1147 teu (712 @ 14ts) 19kn on 45ts 6 mos	5000

Venus´96	MOSK
18400 dwat 1128 teu (820 @ 14ts) 18,5kn on 37,5ts 3 mos	4300

Jork Valiant´00	Marguisa
18425 dwat 1128 teu (820 @ 14ts) 18,5kn on 40ts 8 mos	4600

Magnus F´06	SAMSKIP
13760 dwat 1118 teu (700 @ 14ts) 19,5kn on 36ts 3 mos	6000

Amur River´09	Carpenters
13760 dwat 1118 teu (700 @ 14ts) 19,5kn on 36ts 6 mos	5500

Frisia Spree´08	KMTC
13760 dwat 1114 teu (700 @ 14ts) 19,6kn on 42ts 6 mos	4300

Stadt Luneburg´05	Seafreight
13760 dwat 1102 teu (675 @ 14ts) 20kn on 43ts 6 mos	4150

New Dynamic´01	RCL
16400 dwat 1078 teu (854 @ 14ts) 19,5kn on 51,5ts 3 mos	4500

Hansa Stralsund´93	MEL
12577 dwat 1016 teu (636 @ 14ts) 17,5kn on 29ts 6 mos	4100

Major´92	MEL
12583 dwat 1012 teu (636 @ 14ts) 17,5kn on 29ts 6 mos	4100

Heinrich Sibum´07	King Ocean
11500 dwat 957 teu (604 @ 14ts) 18,5kn on 37ts 6 mos	4900

Elena´06	PIL
11800 dwat 957 teu (604 @ 14ts) 18,8kn on 39ts 6 mos	4300

Alexander Sibum´06	MSL
11500 dwat 957 teu (604 @ 14ts) 18kn on 37ts 6 mos	4200

Husky Runner´06	COSCO
12900 dwat 910 teu (714 @ 14ts) 19kn on 45ts 6 mos	4200

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