Harper Petersen & Co – Ship brokers since 1943
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Market Report

Container update 9th June, 2004


The last few weeks have seen further reductions in activity due in some extent to the normal seasonal cycles, and the continuing scarcity of available tonnage, and of course the '‘cooling off’ of the Chinese economy. However rates remain positive and relatively constant, if not leaping upwards as seen earlier in the year.

The dramatic decline in the dry-bulk sector, which has seen a fall of over 50% since the high levels of March, has not had any real effect on the container market. Panamax vessels achieved mid $40,000 at the peak are now under $20,000, likewise Handy’s which had reached $25,000 are now approaching $12,000. The virtual halt of all imports in raw materials into China, long congestion and credit expiry that all influenced the decline in the dry sector do not carry the same immediate influence for the more ‘stable’ container sector. Indeed the once huge stockpiles in China are now getting close to minimum safety limits, and dry brokers are beginning to talk the market up again in line with expected improvements in import levels. China’s foreign trade remains dynamic, in 2003 there was 37% growth, and in 2004 expectations are at least 17%.

The quiet 2000teu + sector finally saw the Daedong 2500 type Laconikos being fixed for eight years at $19,750 for eight years to CMA/CGM. Having sought a five year charter at $25,000 for some months, a longer period may now indeed suit the owner more. We also saw the Nordatlantic agree to a ‘shorter’ 12 month period and achieved a thumping $33,200. Further the gearless sisters Trade Eternity and Selene achieved $25,850 for 36 months with MSC. This sector though quiet remains strong, and any available vessels are getting a lot of interest.

The mid range 1200-1900teu most recently has seen a tendency for shorter trips and round voyages as vessels become spot, and Charterers are trying to resist longer duration fixtures. However we did of course see the Merkur Delta, having missed out on a high paying twelve months charter, repeating the Sophia Russ level of 36 months at $20,700. The twelve month rate for vessels 1100teu at 14t have seemingly steadied off at about $22,700 courtesy of the Wenchong 1500 type, H Langeland. Although the sector is quieter, and the overall belief is possibly for a slight reduction in levels, the slack summer period may well be short lived as charterers gear up well in advance for the peak Autumn/Christmas season.

Upwards pressure still abounds within the 800-1200teu sector, with local feeder and regional operators having to contemplate longer charters to get more manageable discounted charter levels. However, they are less able to influence box rates than the lines, and the margins are much tighter as a consequence. However the same influences that effected the mid range sector, namely supply, is well established here. The Orskov Mark VII’s Ratana Sopa reached $14,350 for 24 months with PONL, and the Polaris and Pegasus reached $13,925 with Hamburg Sued.


 
 
 

FIXTURES

Gearless

Trade Selene ' 95 extn MSC
41,667 dwt 2480 teu nom (2048 at 14t)
170 reefers / 20,5kn on 75,0t
3 yrs Cont/India/Aussie trade
25,850
   
Trade Eternity '95 MSC
41,667 dwt 2480 teu nom (2048 at 14t)
170 reefers /20,5kn on 75,0t
3 yrs Cont/India/Aussie trade
25,850
   
Buxlagoon ' 94 Hapag Lloyd
23,596 dwt 1687 teu nom (1191 at 14t)
152 reefers / 19,0 kn on 48,0t
1 Feast / Aussie R/V abt 25 days
22,500
   
Aegean Express '97 extn Dongnama
18,300dwt 1572teu (1140 at 14t)
84 reefers / 18.2kn on 36.8
for 16 mos Feast trade
20,500
   
Cape Negro '98 YML
23,650 dwt 1510 teu nom (1145 at 14t)
100 reefers / 19,0 kn on 44,0t
30-35 days Pacific trade
20,250
   
ACX Marigold '91 NYK
24,497dwt 1461teu (1200 at 14t)
200 reefers / 20kn on 53
for 6 mos Feast/SE Asia trade
19,750
   
Magna Vision '89 Dongnama
23,724 dwt 1298 teu nom (1183 at 14t)
70 reefer plugs / 17,0 kn on 34,0t
20-22 mos Feast trade
17,900
   
Montreal Senator '87 APL
19,700 dwt 1173 teu nom (960 at 14t)
100 reefers / 17,5kn on 49,5t
36 mos WW trade
13,400
   
Budi Waja '87 APL
19,710 dwt 1173 teu nom (960 at 14t)
100 reefers / 17,5kn on 49,5t
36 mos WW trade
13,400
   
Silver Ocean '00 extn SYMS
11,400dwt 834teu (590 at 14t)
80 reefers / 18kn on 33
for further 36 mos Feast trade
9,500
   


Geared

Laconikos '02 CMA/CGM
34,246 dwt 2622 teu nom (1854 at 14t)
600 reefers / 22,0kn on 88,0t
8 yrs ww trade
19,750
   
Nord Atlantic '03 Hanjin
33,850dwt 2478teu (1912 at 14t)
400 reefers / 22.8 on 88
for 12 mos wwide trade
33,200
   
Cielo D'Europa '02 K-LINE
33,900 dwt 2452 teu (1886 at 14t)
400 reefers / 21,8kn on 75,0t
48 Mos WW trade
19,500
   
Cielo D'America '02 K-LINE
33,900 dwt 2452 teu (1886 at 14t)
400 reefers / 21,8kn on 75,0t
48 Mos WW trade
19,500
   
Elisabeth '94 (relet) GWSC
29,930dwt 1806teu (1472 at 14t)
150 reefers 19.5kn on 44.5
for 2 transpac rounds
24,000
   
Wehr Koblenz '98 PONL
23,040 dwt 1730 teu nom (1125 teu at 14t)
200 reefers / 20,0 kn on 54,5t
ext 18 mos Cont/Ecsa trade (period counts
as from jan 2005)
17,500 (retro as fm beg june)
   
Merkur Delta '95 Safmarine
22,900 dwt 1730 teu nom (1125 at 14t)
200 reefers / 20,0 kn on 54,0t
3 yrs WW trade
20,700
   
Iwato '95 USL
24,381dwt 1613teu (1250 at 14t)
206 reefers 20kn on 53
for 12 mos transpac trade
optn 16,500
   
H Langeland '03 CSAV
20,700 dwt 1581 teu nom (1065 at 14t)
288 reefers / 20,0kn on 55,0t
12 mos WW trade
22,700
   
Dorikos '96 CP SHIPS
24,457 dwt 1561 teu nom (1210 at 14t)
150 reefers / 19,5kn on 54,0t
60 days trip Cont/Aussie/FE
(25days h.rob at 23k??)
private
   
Heicon '84 CP SHIPS
22,240 dwt 1364 teu nom (1020 at 14t)
125 reefers / 18,0kn on 45,0t
2 yrs Caribs/ECSA trade
13,500
   
Caecilia Schulte '95 Messina
14,111 dwt 1162 teu nom (750 at 14t)
100 reefers / 17,0kn on 30,5t
1 Med/Wafrica R/V
14,400
   
Ratana Sopa '93 PONL
12,184dwt 1139teu (709 at 14t)
232 reefers 18.4kn on 40
for 24 mos feast trade
14,350
   
Pegasus '93 Hamburg Sued
12,060 dwt 1139 teu nom (709 at 14t)
232 reefers / 18,1kn on 44,0t
24 Mos Caribs trade
13,925
   
Polaris '93 Hamburg Sued
12,060 dwt 1139 teu nom (709 at 14t)
232 reefers / 18,1kn on 44,0t
24 Mos Caribs trade
13,925
   
Thor Nexus '89 PIL
20,200dwt 1128teu (750 at 14t)
136 reefers / 16kn on 31.5
for 12 mos SE Asian trade
13000
   

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