Market Report

Former Reports:

Container update 2nd February, 2004

Another dramatic chartering fortnight that neither the Chinese New Year festivities nor the ‘Mydoom’ virus could apparently detain. The more so in last week, with some quite extraordinary figures being achieved for shorter term business in the ‘larger’ sector. Charterers now have to react with an almost indecent haste to secure tonnage well in advance of normal circumstances.

The 2000teu+ sector continues to flabbergast the limits of acceptability. Vessels are being taken from the market months in advance, increasing pressure on charterers, and allowing owners to demand longer periods for ever increasing levels. Amongst others, Hanjin have apparently extended up to 5 x 5600 teu Conti vessels for a further seven years, at levels of mid $28,000, with dates towards the year-end. Whereas Hansa Mare have been able to place four of their Hyundai 2900 types to Maersk Sealand for 36 months at $24,000. However the PONL fixture of the Kerstin S 2474teu nominal for a further 12 months trading at a reported $29,500 astonished the market. (The reason given for extending at this level directly related to charterers only requiring a ‘shorter’ 12 month period to suit newbuilding deliveries, and owners of this size vessel all seeking much longer periods or requiring sensational returns). There was even also talk of the Wehr Warnow on charter to Hamburg Sued, being relet to SCI at $34,000 for very short period, but we understand failed on subs.

The mid sizes continued to regain the ground lost in the final months of last year, with levels now reaching $17,000 again with the Irenes Logos to CCNI and Triumph and San Clemente with Contship. The rise has been steady, but not as dramatic as the leaps and bounds of the larger sectors, however expectations are growing that the continued lack of larger tonnage will sooner rather than later make vivid inroads here also. Owners are becoming more bullish, and are consequently seeking longer periods at higher levels, and the feeling is the more prohibitive rate levels of the larger types will restrict the ‘smaller’ charterers, and squeeze them into smaller sizes, thus further increasing pressure.

Overall the continued lack of tonnage, increased demand from Charterers, and subsequent squeeze downwards is certainly expected to continue unabated for the foreseeable.

Further news today with the P&O Nedlloyd ‘sale’ finally being concluded with P&O selling its 50% stake to Royal Nedlloyd for at 25% stake in the ‘new’ company.

FIXTURES

Gearless

MSC Attica ‘84	MSL
48,600dwt 3584teu (2508 at 14t) 300 reefer 24kn on 167 for 60/12 mos wwide trade	usd 26,000

Victory ‘88	Norasia
40,638dwt 3066teu (2478 at 14t) 300 reefer 22kn on 108 for 36 mos wwide trade	usd 24,750

Mare Caspium ’95 + 3 sisters	MSL
34,630dwt 2959teu (2031 at 14t) 260 reefer 22kn on 82 for 36-42/12 mos wwide trade	usd 24,000/25,000 (net)

Amasis ‘97	Hanjin
34,900dwt 2908teu (2090 at 14t) 285 reefer 22kn on 89.8 for 36 mos Feast/Aussie trade	usd 24,000

Lausanne ‘03	optn Cosco
38,200dwt 2826teu (2020 at 14t) 554 reefer 24kn on 95 for further 12 months transpac trade	usd 15,000

Nuevo Leon ‘94	Norasia
36,110dwt 2394teu (1950 at 14t) 200 reefer 20kn on 80 for 12 months wwide trade	usd 22,000

Nautique ‘87	optn EMC
29,693dwt 2098teu (1700 at 14t) 295 reefer 18kn on 47 for further 12 months Cont/Med trade	usd 12,300

Diman II ‘84	optn EMC
30,124dwt 2058teu (1653 at 14t) 327 reefer 20.8kn on 80 for further 12 months Cont/Med trade	optn EMC

Northern Joy ‘92	extn Senator
31,160dwt 2021teu (1640 at 14t) 120 reefer 18.5kn on 65 for further 24 months Med/Canada trade	usd 20,000

White Swan ‘89	extn Zim
31,364dwt 1939teu (1465 at 14t) 185 reefer 19kn on 69 for further 24 months Cont/Med trade	usd 17,500

Sinar Surya ‘99	UASC
24,316dwt 1560teu (1210 at 14t) 200 reefer 18.5 on 45 for 12 mos SE Asia/PG trade	usd 15,450

Masovia ‘95	optn US Lines
22,148dwt 1504teu (1180 at 14t) 200 reefers 20.5kn on 61.3 for further 12 mos transpac trade	usd 16,000

Geared

Kerstin S ‘97	extn PONL
33,588dwt 2474teu (1950 at 14t) 320 reefer 21kn on 66.5 for further 12 mos Cont/WCSA trade	usd 29,500

JPO Aquarius ‘00	extn Libra
33,900dwt 2470teu (1950 at 14t) 400 reefer 22kn on 74 for further 24 mos MED/WCSA trade	usd 25,000

Anika Oltman ‘98	extn Montemar
33,963dwt 2470teu (1890 at 14t) 300 reefer 21kn on 66.5 for further 24 mos USEC//WCSA trade	usd 25,000

Jan David S ‘03	extn CSAV
31,900dwt 2450teu (1896 at 14t) 300 reefer 22.5kn on 79.8 for further 24 mos Feast/WCSA trade	usd 25,000

Leda Trader ‘00	extn Hmbg Sued
34,600dwt 2442teu (1886 at 14t) 400 reefer 21.8kn on 65 for further 24 mos N Europe/ECSA trade	usd 22,500

Santa Felicita ‘99	Hmbg Sued
30,029dwt 2169teu (1663 at 14t) 422 reefer 19.7/50.7 for 36 mos wwide trade	usd 19,750

Ocean Hope ‘89	CSCL
26,366dwt 1799teu (1331 at 14t) 135 reefer 18.5 on 46for 36 mos wwide trade	usd 14,500

Panama ‘89	extn CSCL
25,800dwt 1743teu (1315 at 14t) 140 reefer 18.8kn on 48 for further 24 mos Feast/W Africa trade	usd 15,450

Paris ‘90	extn CSCL
25,800dwt 1743teu (1315 at 14t) 140 reefer 18.8kn on 48 for further 24 mos Feast/W Africa trade	usd 15,450

Philipp, Konrad & Lambert Schulte ’04 & ‘05	Hamburg Sud
23,579dwt 1740teu (1330 at 14t) 300 reefer 21kn on 64for 36 mos wwide trade	usd 14,750

Wehr Rissen ‘99	Delmas
23,190dwt 1730teu (1120 at 14t) 200 reefer 20kn on 54.5 for 24 mos Cont/ African trade	or usd 15,500

Vulkan ‘96	Marfret
23,001dwt 1730teu (1120 at 14t) 200 reefer 20kn on 55 for 12 mos TA trade	usd 16,000

Northern Delight ‘94	optn Hmbg Sued
22,426dwt 1717teu (1184 at 14t) 270 reefer 19kn on 43 for further 12 months Cont/Med trade	usd 15,000

Kindia ‘99	Hanjin
21,185dwt 1634teu (1210 at 14t) 200 reefer 20kn on 59 for 36 months Feast trade	usd 15,550

Irenes Logos ‘95	extn CCNI
23,970dwt 1625teu (1250 at 14t) 206 reefer 20kn on 53 for further 24 months Feast/WCSA trade	usd 17,000

Macaro ‘96	K Line
22,250dwt 1608teu (1083 at 14t) 200 reefers 21kn on 59 for 19 mos Feast trade	usd 15,750

Triumph ‘94	Contship
21,480dwt 1576teu (1246 at 14t) 100 reefer 19.5kn on 48.5 for 24 mos wwide trading	usd 17,000

Hansa Aalesund ‘98	UASC
20,630dwt 1550teu (1029 at 14t) 198 reefer 20kn on 52 for 12 mos SE Asia/PG trading	usd 15,250

Hansa Trondheim ‘98	UASC
20,630dwt 1550teu (1029 at 14t) 198 reefer 20kn on 52 for 12 mos SE Asia/PG trading	usd 15,250

San Clemente ‘94	Contship
20,116dwt 1512teu (1193 at 14t) 250 reefer 19.65kn on 47 for 24 mos wwide trade	usd 17,000

Estetrader ‘93	CLAN
20,100dwt 1452teu (1014 at 14t) 150 reefer 19kn on 46 for 12 mos ECSA/WCSA trade	usd 14,000

Steindeich ‘96	extn Hapag
18,400dwt 1205teu (820 at 14t) 150 reefers 20kn on 45 for further 12 mos Caribs trade	usd 11,500

Doris Wulff ‘96	extn TSK
18,355dwt 1205teu (820 at 14t) 150 reefers 20kn on 45 for further 6 mos SE Asia/Jpn trade	usd 12,300

Weisshorn ‘96	UFS
14,630dwt 1122teu (748 at 14t) 150 reefers 19kn on 44 for 5-7 mos Med trade	usd 10,500

Hansa Berlin ‘93	PONL
12,380dwt 1016teu (636 at 14t) 90 reefers 17.5kn on 29 for 12 mos Caribs trade	usd 9,500

Hansa Greifswald ‘96	extn EWL
12,380dwt 1016teu (636 at 14t) 90 reefers 17.5kn on 29 for 12 mos Caribs trade	usd 9,500

Major ‘92	extn MSC
12,578dwt 1012teu (647 at 14t) 90 reefers 17.5kn on 28.5 for further 12 mos Med trade	usd 9,500

Holandia ‘00	extn Costa
9,100dwt 907teu (530 at 14t) 160 reefer 18.5kn on 32 for further 18 months Caribs trade	usd 9150

Christine Eberhardt ‘84	extn PONL
12,700dwt 856teu (629 at 14t) 50 reefer 16.5kn on 35 for further 8 months Med trade	usd 9250

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