Market Report

Former Reports:

Container update 13th February, 2004

This last fortnight has witnessed a most dramatic change of period and rates within the mid range sized vessels. It has long been recognized that charterers were taking any and all available tonnage of about 2000teu+ out of the market as soon as possible, and far in advance, with Owners holding out for long term at high levels. This now appears to have effected the mid sizes too, with the market jumping in a spectacular fashion.

A quieter period has befallen the 2000teu+ sector, however this is in the main down to the lack of tonnage rather than any weakening of demand. Last week saw the Magnavia fixture to RCL at an outstanding $22,950, and this week we hear of the Westerburg & Champion both getting $23,250 for 36 months. Rates and periods will continue to remain strong for the foreseeable future.

The mid range 1400-1900teu though has seen sharp rises in rates achieved and in Owners optimism over the last week. The catalyst seems to have been the Merkur Tide which took a fantastic $16,750 for 36 months with Yang Ming, only a fortnight before similar sized vessels were taking $17,000 for 12 months!! Further we understand that a B170 type, the
Wehr Ottensen has achieved $18,250 for 24 months. The long talked of ‘knock on effect’ appears to have most definitely arrived, Owners are raising their levels in an extremely fluid market, and Charterers are having to take vessels for longer periods at higher levels.

Expectations must surely be that this market is now seeing the unprecedented demand seen in the larger sizes filtering down, and historical highs will be achieved.

FIXTURES

Gearless

Hansa India ‘94	NYK
43,369dwt 3424teu (2411 at 14t) 300 reefer 22.5kn on 99 for 36 mos wwide trade	usd 29,000

Nordstrand ‘93	Norasia
34,062dwt 2280teu (1845 at 14t) 300 reefers 20.8kn on 70 for further 3 mos Med/Feast trade	usd 25,000

Magnavia ‘96	extn RCL
30,300dwt 2078teu (1705 at 14t) 400 reefers 21.5kn on 73 for further 36 mos SE Asian/Aussie trade	usd 22,950

Nefeli ‘81	K Line
31,049dwt 1850teu (1502 at 14t) 100 reefers 20.5kn on 87 for 24 mos wwide trade	usd 17,500

Lancashire ‘98	Hanjin
14,310dwt 1658teu (823 at 14t) 300 reefer 23kn for 6-12 mos interasian trade	usd 10,500 12mos or usd 11,050 6 mos

Buckinghamshire ‘99	Sarlis
14,310dwt 1658teu (823 at 14t) 300 reefer 23kn for 2 mos Med trade	usd 10,000

Montania ‘96	Yang Ming
22,148dwt 1504teu (1180 at 14t) 200 reefers 21kn on 61.3 for 24 mos wwide trade	usd 17,000

Geared

HSH Kusu & HSH Ubin ‘89	extn EMC
28,160dwt 2097teu (1674 at 14t) 100 reefers 17.5kn on 45.8 for further 18 mos feast trade	usd 17,000

Champion ‘98	extn Lloyd T
30,450dwt 2080teu (1700 at 14t) 300 reefers 21kn on 72 for further 36 mos SE Asia/Aussie trading	usd 23,250

Westerburg ‘97	extn K Line
30,300dwt 2072teu (1650 at 14t) 300 reefers 21kn on 70 for further 36 mos Feast/WCSA trading	usd 23,250

Meliton ‘81	extn PIL
33,185dwt 1952teu (1945 at 14t) 218 reefers 18.5kn on 62.2 for further 24 mos Feast/I Ocean trading	usd 18,000

Neptun, Taurus + Sister ‘98	extn Hmbg Sud
29,240dwt 1835teu (1392 at 14t) 325 reefers 21kn on 68 for further mos Atlantic trade	private rate

Conti Hong Kong ‘89	extn Yang Ming
26,288dwt 1743teu (1315 at 14t) 70 reefers 18.5kn on 49 for further 36 mos Feast trade	usd 16,250

Durande ‘03	Delmas
23,508dwt 1740teu (1330 at 14t) 296 reefers 21kn on 64 for further 24 mos Asia/S-W Africa trade	usd 17,500

Wehr Ottensen ‘97	Hanjin/Senator
23,040dwt 1730teu (1120 at 14t) 200 reefers 20 on 54.5 for 24 mos wwide trade	usd 18,250

Atlantic Trader ‘96	Costa
22,525dwt 1608teu (1124 at 14t) 200 reefers 21kn on 60.5 for 12 mos trans Atlantic trade	usd 16,250

Merkur Tide ‘98	Yang Ming
22,026dwt 1584teu (1081 at 14t) 238 reefers 21kn on 60 for 36 mos wwide trade	usd 16,750

Cap Vilano ‘94	optn GSL
22,300dwt 1572teu (1100 at 14t) 200 reefers 19.5kn on 53 for further 12 mos I Ocean/African trade	usd 16,000

Westerdeich ‘77	APL
27,900dwt 1538teu (1325 at 14t) 135 reefers 20kn on 80 for further 24 mos Spore/Indon trade	private rate

Marwan ‘94
20,250dwt 1388teu (1010 at 14t) 135 reefers 18.6kn on 42 for 18 mos wwide trade	private rate

Margret Oldendorff ‘92	TOL
24,190dwt 1344teu (1050 at 14t) 100 reefers 18kn on 43.5 for 1 Feast/Aussie round	usd 14,500

Astor ‘95	extn PONL
18,400dwt 1129teu (848 at 14t) 152 reefer 18.5kn on 40 for further mos SE Asia/Africa trade	private rate

Vega Diamond ‘03	TSL
13,760dwt 1118teu (712 at 14t) 220 reefer 19.6kn on 39.3 for 12 mos intra asian trade	usd 11,250

Sebastian Caboto ‘91	optn GSL
14,764dwt 1068teu (810 at 14t) 160 reefers 18kn on 41 for further 6 mos Mid East/E Africa trade	usd 9750

Cape Ann ‘93	extn UASC
15,562dwt 1066teu (755 at 14t) 100 reefer 17.5kn on 37 for further 12 mos PG trade	private rate

Perseus ‘90	optn CSCL
15,165dwt 1048teu (752 at 14t) 100 reefers 18.5kn on 36 for further 6 mos Feast trade (relet)	usd 9300

Cape Horn ‘92	extn MOL
12,850dwt 923teu (620 at 14t) 200 reefers 18.5kn on 35 for further 12 mos NCSA/ECSA/Caribs trade	usd 10,500

Wilma ‘85	Sarlis
12,710dwt 856teu (629 at 14t) 50 reefers 17.5kn on 35 for 6-9 mos intermed trade	usd 9600

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