Market Report

Former Reports:

Container update 26th April, 2004

Once again the market has thrown another of its many proverbial spanners into the works. Rates that were a short fortnight ago pushing the market to new heights, are now themselves overtaken by further developments, and become acceptable.

The larger section saw of 2000teu + saw two further Hyundai 4000’s types relet from Sinotrans for short duration on or at similar levels done by the sister recently $41,500 - $43,500. Also it is believed that CMA has extended the CMA/CGM Normandie for long period at private rates. This vessel was not expected to be available until the final quarter of the year, but the well-established lack of larger tonnage is forcing charterers hands, and may reflect Evergreen’s charter of the smaller than desired Hansa Century at $28,400 for thirty six months. Cosco also took vessels well in advance with 4 vessels of approximately 2700teu at $21,000 per day not coming ex-yard until June/July 2005. This still not being significant enough, the Lobivia (2082teu) is reported as having achieved a whopping $25,900 for 36 months trading.

The mid ranges are very soon to see a B170 type reaching a remarkable 20,000 per day for 3-year charters, this only a mere 6-8 weeks since twelve months at this rate was first attained. The Wehr Flottbek has attained $19,950 for 36 months with Evergreen and the Merkur Beach $20,950 for 24 with OOCL, which clearly points the short 12 month rate now at $22,000 per day. Slightly smaller but no less dramatic was the CS1400 Rinkenis fixture to APM at $19,750 for 12 months.

Vessels of about 1000teu are also much in demand with a large number of unfilled requirements and a distinct lack of tonnage available. Owners of modern fast tonnage are apparently able to ask for what they like for ‘shorter’ duration, and owners failing charters are becoming more common, as an example a rate of mid 15’s for a B190 type was being discussed, but it failed on owners subs. However of note the Arnis 1208teu managed $14,500 for a twelve-month charter, and 1012teu Merkur Bridge having fixed some shorter duration charter achieved $12,450 for 24 months.

Across the board, the market remains very positive for owners, charterers must surely be getting close to cost limits, but lines need to be serviced, and rates will undoubtedly remain high.

FIXTURES

Gearless

CMA/CGM Normandie '91	extn CMA/CGM
62,777dwt 4734teu (3591 at 14t) 250 reefers 24kn on 170 for further 60 mos Cont/Feast trade	private rate

Mare Arcticum '00	MSC
52,267dwt 4038teu (3000 at 14t) 430 reefers 25.5kn on 144 for abt 2 mos Feast trade	41,500

Mare Caribicum '00	extn Yang Ming
52,267dwt 4038teu (3000 at 14t) 430 reefers 25.5kn on 144 for further 2 mos transpac trade	43,500

Grand View '91	CMA/CGM
44,016dwt 2986teu (2417 at 14t) 100 reefers 21.5kn on 90 for 60 mos wwide trade	private rate

Hansa Century '97	EMC
34,950dwt 2810teu (2070 at 14t) 303 reefers 22.5kn on 95 for 36 mos Feast/USEC trade	28,400

Cape Melville & Cape Moreton '05	Cosco
37,800dwt 2742teu (2115 at 14t) 400 reefers 21.5kn on 88 for 60 mos wwide trade	21,000

2 x Martime nb's '05	Cosco
37,950dwt 2702teu (2070 at 14t) 500 reefers 22.3kn on 95 for 60 mos wwide trade	21,000

Palermo Senator '92	extn MSC
45,696 dwt 2680 teu (2415 at 14t) 150 reefers / 19 kn on 60t 48 mos Feast / Bl Sea trade	23,000

Paradip '92	MSC
45,696 dwt 2680 teu (2415 at 14t) 150 reefers / 19 kn on 60 t 24 mos Feast / Bl Sea trade	private

African Express '85	Hapag
33,863dwt 1923teu (1547 at 14t) 80 reefers 18kn on 49 for 24 mos Cont/African trade	private rate

Pacific Quest '83	MISC
32,779dwt 1830teu (1830 at 14t) 300 reefers 21.5kn on 75 for further 24 mos Feast/Aussie trade	25,750

Buckinghamshire '99	PONL
14,310dwt 1733teu (823 at 14t) 300 reefers 23kn on 100 for 1 Med/PG round	14,000

Bermudian Express '00	US Lines
21,420 dwt 1679 teu (1230 at 14ts) 194 reefers / 21kn on 61t 21 mos Transpacific trade	20,500

Conti Jork '90	PIL
23,465 dwt 1599 teu (1148 at 14t) 120 reefers / 18 kn on 45t 24 mos Feast trade	17,500

Kuo Wei '97	OOCL
18,421dwt 1471teu (1140 at 14t) 42 reefers 18.2kn on 35 for 24 mos Feast trade	18,800

Cape Arago '92	extn APL
15,562dwt 1066teu (755 at 14t) 100 reefers 17.5 on 37 for further 12 mos Red Sea trade	12,400

Geared

Laconikos '02	PIL
34,246dwt 2622teu (1852 at 14t) 440 reefers 22.1kn on 88 for 2 mos Interasian trade	30,500

Priwall '97	CMA/CGM
39,425 dwt 2480 teu (1978 at 14t) 150 reefers / 20 kn on 72 t 5 mos USEC / ECSA trade	29,000

Ajama '94	CP Ships
33,745 dwt 2420 teu (1908 at 14t) 300 reefers / 20.8 kn on 70t 36 mos Atlantic trade	25,950

Lobivia '01	Costa
30,743 dwt 2082 teu (1700 at 14t) 432 reefers / 21.5 kn on 74t 36 mos Atlantic trade	25,900

Master 1 '97	extn PONL
30,432 dwt 2078 teu (1665 at 14t) 300 reefers / 21kn on 74t ext 36 mos Cont/Safrica trade	24,000

Troyburg '88	PIL
26,070 dwt 1797 teu (1316 at 14t) 70 reefers / 18 kn on 42 t 24 mos Feast trade	19,750

Wehr Flottbek '99	EMC
22,878 dwt 1730 teu (1125 at 14t) 200 reefers / 20 kn on 54.5t 36 mos Feast / Aussie trade	19,950

Merkur Beach '96	OOCL
22,996dwt 1706teu (1124 at 14t) 200 reefers 19.6kn on 54.5 for 24 mos wwide trade	20,950

Mamitsa '85	HMM
25,088dwt 1572teu (1154 at 14t) 80 reefers 18kn on 44 for 24 mos Indian Ocean trade	18,250

Hansa Bergen '97	MOSK
20,630 dwt 1550 teu (1029 at 14t) 198 reefers / 20 kn on 49t 12 mos Feast trade	21,000

Hansa Kristiansand '01	EMC
20,630 dwt 1550 teu (1029 at 14t) 198 reefers / 20 kn on 49t 36 mos Aussie/Feast trade	18,975

H Kirkenes	optn MSL
20,630 dwt 1550 teu (1029 at 14t) 198 reefers / 20 kn on 49t 8 mos ECCA/Caribs trade	16,000

San Lorenzo '93	extn PONL
20,278 dwt 1512 teu (1180 at 14t) 100 reefers / 20 kn on 51 t 24 mos Med / Feast trade	20,250

Rinkenis '93	ext APM
20,150 dwt 1388 teu (1014 at 14t) 150 reefers / 18.5 kn on 45 t 12 mos Algeciras / Wafrica trade	19,750

Birte Ritscher '95	Marfret
20,346 dwt 1388 teu (1014 at 14ts) 150 reefers / 19kn on 46t 2.5 mos Transatlantic trade	19,500

Norderoog '04	SYMS
17650dwt 1300teu (850 at 14t) 250 reefers 19kn on 45 for 36 mos Feast trading	13,500

Independent Spirit '91	SYMS
17,520 dwt 1208 teu (866 at 14t) 75 reefers / 17,5 kn on 37t 24 mos Feast trade	13,500

Arnis '91	extn HH-SUED
17,520 dwt 1208 teu (866 at 14ts) 75 reefers / 18kn on 37t 12 mos Safrica/Wafrica/Ecsa trade	14,500

Nordcliff '91	Delmas
14,190 dwt 1158 teu (687 at 14t) 125 reefers / 17kn on 30t 24 mos Feast / Eafrica trade	13,500

Titan '96	extn Costa
14,587 dwt 1122 teu (750 at 14t) 150 reefers / 19.6kn on 47 t 24 mos Caribs trade	12,475

Carola E '94	optn FAS
17,520dwt 1107teu (751 at 14t) 100 reefers / 18.5kn on 40 for further 4 mos Med trade	10,700

Eckert Oldendorff '83	Dongnama
29,331 dwt 1100 teu (1001 at 14t) 32 reefers / 15 kn on 29 t 4-5 mos Feast trade	18,000

Vn Mariner '04	Samudera
12,400dwt 1016teu (630 at 14t) 90 reefers 17.3 on 28 for 12 mos Feast trade	10,900

Merkur Bridge '93	Pu Hai
12,598 dwt 1012 teu (646 at 14t) 90 reefers - 17.5 kn on 29t 24 mos Feast trade	12,450

Active F	extn Norasia
12,582dwt 1012teu (636 at 14t) 90 reefers 17.5kn on 30.5 for further 2 mos Indian Ocean trade	12,000

Belle Isle '93	extn Samudera
12,575dwt 1012teu (640 at 14t) 90 reefers 17.5kn on 30.5 for further 24 mos AG/Indian Ocean trade	12,250

St. Irene '92	PIL
12,300 dwt 1012 teu (650 at 14t) 90 reefers / 17,5 kn on 29,5t 12 mos Red Sea trade	13,000

Gunay Kiran '97	SYMS
12,855dwt 912teu (536 at 14t) 120 reefers 17.5kn on 28 for 6 mos intra asian trade	11,000

Teutonia '83	extn GSL
12,750dwt 908teu (530 at 14t) 50 reefers 17.5kn on 33.5 for further 24 mos Feast/SE Asian trade	11,350

Sevket Yardimchi '98	optn MSL
8,690dwt 875teu (465 at 14t) 80 reefers 16kn on 25 for further 3 mos Cont/Med trade	MSL

Reliance '99	extn Sinotrans
10,000dwt 855teu (570 at 14t) 18kn on 31 for further 12 mos China/Jpn trade	11,800

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