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Market Report

Container update 19th May, 2004


Having seen a much quieter period over the last fortnight, much influenced by the Far Eastern holidays, this last week has seen activity pick up a bit, particularly in the medium sizes. Increasing volumes are being reported by most liner companies, and this will only serve to increase pressure on rates.

The larger sector 2000teu+ has remained quiet due to the well established lack of tonnage, and with a mere handful of available tonnage for the rest of the year, we can realistically only expect more broken records. We saw two Thyssen 2500 types taken by Cosco for 5 years at $21,000, and the market talks of $31,000 for an eight month extenion to NYK of the Kaedi a CSBC 2200 type.

The medium size saw a return of activity and further historical highs achieved by the B186 Nordseas achieving $19,950 for 36 months, and the Cape Natal B191 type at $19,750 also for 36 months. A B170 type has also failed a twelve month charter at a rate in the lower $23,000’s, a continuing pointer to charterers reluctance to agree levels where margins are so tight, however again the scarcity of tonnage will continue to pressurise charterers whenever they have a requirement.

Activity in vessels around 1000teu has slowed considerably over the last couple of weeks, with even this feeder size having simply exhausted supply within a very short space of time. The Sigrid Wehr has finally agreed a rate of $16,000 for 12 months, having failed several times previously, and been chased by a great many prospective charterers.

Although there is talk of stiffer resistance to the ever-increasing charter period and rates, and talk of dampening the Chinese economy abounds, the reality is still relatively straight-forward. Increasing volumes and lack of tonnage in all sectors will inexorably further pressurise charterers in the near future with or without the relapsing dry bulk sector.


 
 
 

FIXTURES

Gearless

Frisia Copenhagen '05 COSCO
37,950 dwt 2702 teu nom (2100 at 14t)
440 reefers / 21,76 kn on 84t
60 mos WW trade
21,000
   
Frisia Leipzig '04 COSCO
37,950 dwt 2702 teu nom (2100 at 14t)
440 reefers / 21,76 kn on 84t
60 Mos WW trade
21,000
   
Brazilian Express '01 Hanjin
21,420 dwt 1679 teu (1230 at 14t)
194 reefers / 21,0 kn on 61,0t
2 opt 2 Mos Pacific trade
22,000
   
Buckinghamshire '99 Metz Container Line
14,310 dwt 1658 teu nom (821 at 14t)
300 reefers / 24,0kn on 105,0t
9 mos Intramed trade
13,500
   
Gallant Wave '96 (Relet) Dongnama
24,083 dwt 1510 teu nom (1145 at 14t)
80 reefers / 18,0kn on 37,0t
12 Mos Feast trade
19,950
   
Cape North '98 YML
22,286 dwt 1504 teu nom (1180 at 14t)
200 reefers / 21,0 kn on 61,3t
36 Mos WW trade
19,900
   
Cape Natal '95 extn APL
22,148 dwt 1504 teu nom (1180 at 14t)
200 reefers / 21,0 kn on 61,0t
36 Mos Se Asia trade
19,750 net
   
Xingang Express '96 extn HALO
21,813 dwt 1498 teu nom (1070 at 14t)
190 reefers / 19,0 kn on 47,0t
ext 12 mos Pacific trade
17,000
   
Asian Pegasus '91 HEUNG-A
22,740 dwt 1404 teu nom (1090 at 14t)
98 reefers / 19,0 kn on 41,0t
24 Mos WW trade
19,500
   


Geared

Kaedi '03 (rumoured) extn NYK
30,450 dwt 2202 teu nom (1735 at 14t)
350 reefers / 21,5 kn on 96,0 t
8 mos FE/WCSA trade
31,000
   
Alberta '92 extn CLAN
30,007 dwt 1742 teu nom (1527 at 14t)
100 reefers / 19,5 kn on 47,5t
36 Mos FE/WCSA trade
22,250
   
Gloria '01 CSAV
22,900 dwt 1730 teu nom (1125 at 14t)
200 reefers / 20,0 kn on 54,5t
4-6 Mos Atlantic trade
22,100
   
Sofia Russ '96 extn PONL
22,984 dwt 1730 teu nom (1125 at 14t)
200 reefers / 20,0 kn on 54,0t
36 Mos ECSA Coastal trade
20,700
   
Veronique Delmas '84 NORASIA
31,975 dwt 1710 teu nom (1570 at 14t)
180 reefers / 17,5 kn on 49t
4-5 Mos AG Trade
19,250
   
Nordseas '97 Hanjin
22,420 dwt 1684 teu nom (1100 at 14t)
120 reefers / 20,0 kn on 49,5t
36 Mos WW trade
19,950
   
Thermaikos '96 DELMAS
24,500 dwt 1606 teu nom (1210 at 14t)
150 reefers / 19,0kn on 52,0t
5 Mos FE/Wafrica trade
20,000
   
N/B Suederoog '04 SYMS
17,650 dwt 1300 teu nom
250 reefers / 19,0 kn
36 Mos WW trade
13,500
   
Karonga '91 Seaboard
19,465 dwt 1191 teu nom (707 at 14t)-nonc
45 reefers / 16,5 kn on 32t
36 Mos WW trade
10,900
   
Sigrid Wehr '95 extn RCL
13,700 dwt 1055 teu nom (760 at 14t)
90 reefers / 18,5 kn on 38,0t
12 mos Se Asia / India trade
16,000
   
Roerborg '90 UFS
10,345 dwt 1000 teu nom (630 at 14t)
98 reefers / 17,0 kn on 35,0t
3 mos Intramed trade
12,400
   
Sima Bahar '96 APL
12,665 dwt 860 teu nom (530 at 14t)
120 reefers / 17,0 kn on 30t
40 days Pacific trade
11,500
   
Regina Eberhardt '84 extn Costa
8,800 dwt 755 teu nom (510 at 14t)
70 reefers / 16,0 kn on 23,5t
6 Mos Med trade
10,400
   

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