Container update 14th December 2010
In general the market has been relatively active considering that Christmas and New Year is quickly approaching. The number of idle ships has not grown as much as some market commentators expected in the last month of the year. Approximately 2.5 pct (about 140 ships) of the cellular container fleet currently lies idle, compared to about 11 pct 12 months ago. Significantly what has also changed from that time, is that charter rate increases are expected in the coming months, which was not necessarily the case 12 months ago. This sentiment is also reflected by the activity of some liner operators who are trying to charter in ships for 2011 delivery at 2010 prices. This should provide some impetus for the market and mean that rates should rise quicker from the december lows compared to 12 months ago.
On a spot basis for ships remaining open in 2010 or early 2011, the 1100 - 1300 teu sizes remain once again the most active with the Daesun 1000 types leading the way with rates in excess of usd 9000 being paid. The market for 1700 teu ships has remained fairly stable with rates around usd 8000 in Asia. In the Atlantic, geared tonnage remains in relatively short supply and rates slightly in excess of usd 9000 for 6-10 months period.
The 2500 - 3500 teu sizes remain the most under pressure with relets from Liner operators adding to the over supply. Spot 2500 teu ships are fixing at usd 9000 in Asia with little new demand expected in coming weeks. 2800 teu ships still are managing to get a significant premium over 2500 teu ships in Asia however the rates are down to around the usd 11000 mark depending on the specification. 3500 teu ships are also struggling with operators rating them at around usd 12500.
Looking larger, the discussion on 4300 teu ships have largely focused on the periods rather than the rates. For periods upto 6 months, operators are able to get tonnage around usd 18000, however for longer period charterers will still have to pay in excess of usd 20000. For forward positions in March - April 2011, owners are wanting rates way in excess of this, expecting the market the signicantly rise, primarily due to the lack of larger tonnage for the expected requirements.
It just remains to say, we wish all our readers a Merry Christmas and a Happy New Year!
|42954 dwat 3424 teu (2411 @ 14ts)
23,5kn on 115ts
|39383 dwat 2824 teu (2030 @ 14ts)
24kn on 95ts
|12800 dwat 1049 teu (671 @ 14ts)
18kn on 31ts
|37274 dwat 2785 teu (2170 @ 14ts)
22,5kn on 97,5ts
|Belgian Express´10||CMA CGM|
|25774 dwat 1795 teu (1312 @ 14ts)
20,5kn on 60,4ts
|Northern Happiness´94||CMA CGM|
|22273 dwat 1717 teu (1184 @ 14ts)
19kn on 42,6ts
|Mediterranean Sea´06||Nile Dutch|
|23780 dat 1706 teu (1250 @ 14ts)
19,5kn on 50ts
|Tabago Bay´07||Mariana Expres|
|13760 dwat 1102 teu (700 @ 14ts)
19,6kn on 42,2ts
|Yangtze River´08||Mariana Expres|
|13749 dwat 1092 teu (700 @ 14ts)
19,4kn on 37ts
|12950 dwat 910 teu (700 @ 14ts)
19kn on 44,5ts
This report reflects information given in good faith to the best of our knowledge, but without guarantee.