Market Report

Former Reports:

Container update 16th January, 2004

After the relatively quiet end of last year, the New Year appears to have started with a bang. There could be a slight pause for the upcoming Chinese New Year, but the markets have seen such a surge in all sizes that it may not occur. The larger sizes have once again led the market, with more Autumnal deliveries being seen.

The 2000teu + sizes saw a flurry of fixtures at the tail end of 2003, and this has continued without pause ever since. Owners, that had been holding out for longer periods and higher rates, are now seeing results such as the rumoured Laconikos fixture to MSL for 5 years at a figure above $21,000. But Hamburg Sued (with four), CSAV, Italia Lines, Hanjin and Costa have all been active since the beginning of the year with 36 months being readily agreed.

The mid sizes of about 1700teu that bore the brunt of the quieter market in the last quarter, have also burst out of the starting blocks. Owners who were being forced into rates approaching only $10,000 for short term duration are now rapidly raising their levels towards the highs of last year. This may take a little longer to achieve, but the sentiment is there, and so it would appear is the demand. Of note the Hispania extension to Hamburg Sued for 12 months at $16,200 already raising expectations. There does still appear to be disparity between East and West with some vessels fixing out to reap the better levels.

Overall, the holiday lull has been rapidly disposed of leaving a invigorated early market. Charterers are moving rapidly to secure tonnage, and Owners must be bullish for the future.

FIXTURES

Gearless

Northern Dignity	CMA CGM
44,700dwt 3607teu (2564 at 14t) 23.8 on 115 for 60 months wwide trade	usd 25,750

Euromax & Weserwolf	CSAV
39,300dwt 2732teu (2267 at 14t) 22.5 on 85.5 for 36 mos wwide trade – del Sept+Nov. 04	usd 23,300

Nuevo Leon	Norasia
36,110dwt 2394teu (1950 at 14t) 20kn on 80 for 12 mos wwide trade	private rate

Trophy	extn Heung-A
31,600dwt 2084 teu (1800 at 14t) 18.5kn on 49 for further 24 mos Korea/SE Asia	usd 17,500

Buxcrown	Heung A
26,000dwt 1743dwt (1368 at 14t) 18.5kn on 49 for 18 mos Feast trade	usd 14,250

Buxsund	Cheng Lie
23,456dwt 1687teu (1191 at 14t) 19.0 on 48.0 for 3-4 mos Feast trading	usd 10,250

Dollart Trader	Norasia
22,525dwt 1608teu (1124 at 14t) 21kn on 59trip Cont/Feast	usd 15,125

Dorian	Hapag (subs)
22,540dwt 1524teu (1115 at 14t) 19.5kn on 47 for 13 mos wwide trade	usd 15,750

Cape Norman	extn GSL
22,400dwt 1504teu (1180 at 14t) 20.5 on 61.3 for further 10 mos Korea/SE Asia trade	usd 15,450

Cape Nati	extn GSL
22,400dwt 1504teu (1180 at 14t) 20.5 on 61.3 for further 10 mos Korea/SE Asia trade	usd 15,450

Cape Ferro	RCL
16,000dwt 1200teu (870 at 14t) 19kn on 38 for 16-18 mos wwide trade	usd 12,500

Mildburg	extn BTL
23,596dwt 1597teu (1177 at 14t) 18kn on 39 for 36 mos wwide trade	usd 12,500

Cape Creus	KMTC
11,400dwt 834teu (590 at 14t) 18.5kn on 36.75 for 3 mos Feast trade	usd 9000

Geared

Laconikos	MSL
34,246dwt 2622teu (1852 at 14t) 22.1kn on 88, 600 reefer for 60 mos wwide trade	usd 21,500

Hartmann NB (103 & 104)	CSAV
34,000dwt 2478teu (1870 at 14t) 22kn on 74 for 36 mos wwide trade	usd 21,300

Michaela S	extn MSL
33,588dwt 2474teu (1950 at 14t) 21.0 on 66.5 for 36 mos Cont/ECSA trading	usd 23,525

Baltrum Trader	extn Hanjin
33,918dwt 2470teu (1950 at 14t) 21.0 on 66.5 for 36 mos Spore/Aussie trading	usd 22,500

Juist Trader & Ute Oltmann	extn Italia Line
33,963dwt 2470teu (1912 at 14t) 21kn on 66.5 for further 36 mos Med/C America/USWC trade	usd 22,500

Buxfavourite	extn CSAV
34,000dwt 2456teu (1780 at 14t) 21kn on 67 for 36 mos Feast/WCSA/WCNA	usd 21,250

Santa Fiorenza & Francesca	Hamburg Sud
30,029dwt 2169teu (1663 at 14t) 19.7kn on50.7 for 36 mos wwide trade	usd 19,250

Santa Giulietta & Giovanna	Hamburg Sud
30,200dwt 2061teu (1664 at 14t) 19.5kn on 50.7 for 36 mos wwide trade	usd 19,250

Jan S	Costa (ex Grimaldi)
26,262dwt 1906teu (1400 at 14t) 20kn on 58 for further 24 mos Med/NCSA trade	usd 19,250

Hispania	extn Hmbg Sud
21,180dwt 1681teu (1121 at 14t) 21kn on 69.5 for further 12 mos ANZ/USWC trade	usd 16,200

Dollart Trader	Norasia
25,525dwt 1608teu (1124 at14t) 21kn on 59 for trip Cont/Feast	usd 15,125

H Kirkenes	extn MSL
20,800dwt 1550teu (1029 at 14t) 20kn on 52 for further 3/8 mos ECCA/NCSA/Caribs trade	usd 12,500/16,000

Sea Boxer	Dongnama
24,046dwt 1152teu (1250 at 14t) 19.5kn on 47 for 12 mos Korea/SE Asia trade	usd 14,150

Ocean	MSL
14,630dwt 1122teu (748 at 14t) 19kn on 44 for 4/6 mos Med/Bl Sea trade	usd 9850/11,000

Caravelle	NYK
14,630dwt 1122teu (758 at 14t) 19kn on 44 for 18 mos Feast/S American trade	usd 10,250

Caravelle – sister to ocean	NYK
for 18 mos	usd 10,250

Tharos & Stadt Dusseldorff	extn EWL
12,920dwt 1102teu (650 at 14t) 20kn on 43 for further 12 mos Cont/Caribs trade	usd 10,200

Perak	extn Norasia
12,582dwt 1012teu (645 at 14t) 17.5kn on 30.5 for further 3 mos Indian Ocean trade	usd 9,500

Osnabruck	extn ANL
13,300dwt 910teu (703 at 14t) 19kn on 44.3 for further 12 mos Ausssie/NZ trading	usd 10,300

Aurora & Berulan	extn King Ocean
9,320dwt 907teu (530 at 14t) 17.5kn on 31 for further 12 mos USG/Caribs trade	usd 8,700

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