Market Report

Former Reports:

Container update 30th July, 2004

This last month has been particularly quiet with the long hot summer season very much upon us. Combined with the well documented dearth of tonnage the result is an almost dormant market. However what fixtures are being completed, are at least maintaining levels, and with the peak season soon to be upon us, expectations are that the better vessels will soon be snapped up.

We can only report three firm period fixtures in the 2000+ sizes during July. We hear rumours that Hansa Mare has possibly placed one Hyundai 4000 type with Zim for 7 years at $29,750. The Panamax sized Samsung 3400 Hansa Africa achieved $31,000 for a three year charter starting from May 05, up from $29,000 when the sister was fixed in February. The Jurong 2500 Theodor Storm attained just over $23,000 per day for a five year charter with MISC, and the earlier fixture of the 2064teu Westerhamm at $26,500 for a three year charter with Costa. There are also market rumours that the Priwall has gone for about $24,500 for a four year charter to MSC, leaving only a handful of 2000+ vessels available for the remainder of the year.

The mid range was probably the most active, with an interesting spread in periods. Charterers remain in the main reluctant to take vessels in this size for longer than 12-24 months, but levels are remaining strong. The Santa Isabella fixture to SITC for two years at $25,000 is interesting as these charterers have previously avoided this size for their inter Far Eastern trades, perhaps a reflection on the need to take what you can when you can. Otherwise some Owners are accepting round voyages, and short periods at premium levels, bringing vessels back into the peak market in the faith that the peak season will demand greater flexibility from the Charterers.

The 800/1200teu has also remained firm but quiet. We saw the 1122teu Ocean and Weisshorn being absorbed into Maersk Med trades for $15,900, and a socking $14,650 for the Cape Fox in a 4 year charter to Yang Ming. More recently the Grand a B183 type achieved $14,150 for a further twenty four months charter to PONL. The smaller Cape C types of 834 teu, remain strong, with the Coldbek reaching $13,450 for 12 months and the sister Hudson Strait got $13,000 for 24 months with Magistral.

Overall, Owners justly remain positive for the future, and the peak season will only increase pressure on Charterers, at least in the near future.

FIXTURES

Gearless

Hansa Africa '97	NYK
43,200dwt 3424teu (2411 at 14t) 300 reefers / 23.5kn on 115 for 36 mos wwide trade	31,000

Hansa India '94	PIL
43,200dwt 3424teu (2411 at 14t) 300 reefers / 23.5kn on 115 relet to PIL for 1 Feast/Mid East rv	private rate

Theodor Storm '04	MISC
31,500 dwt 2586 teu (2010 at 14ts) 400 reefers / 23,0kn on 93ts 5 Yrs WW trade	23,150

Northern Fortune '91	extn Hapag Lloyd
30,685 dwt 1939 teu (1640 at 14ts) 180 reefers / 19,5kn on 65ts 24 mos Mos Med/USG trade	24,500

Arcadian '79	MSC
29,232 dwt 1832 teu (1655 at 14ts) 480 reefers / 21,0kn on 83ts 36 Mos WW trade	18,000

Duburg '90	PEL
26,288 dwt 1743 teu (1324 at 14ts) 140 reefers / 18,7kn on 46,5ts 15 Mos FE trade	23,500

Buxhill '95	HEUNG-A
23,459 dwt 1684 teu (1231 at 14ts) 152 reefers / 19,0kn on 48ts 11-13 mos Feast trade	23,000

Sierra Express '77	extn Hapag Lloyd
27,800 dwt 1604 teu (1325 at 14ts) 142 reefers / 20,0kn on 78ts 12 mos Cont/Caribs trade	16,500 net

Conti Barcelona '91	Samudera
23,584dwt 1597teu (1148 at 14t) 120 reefers / 18kn on 48 for 7 mos Feast trade	19,000

Lalazar '85	Cheng Lie
13,346 dwt 1022 teu (700 at 14ts) 50 reefers / 16,0kn on 28ts 12 mos Feast trade	13,000

Cape Coldbek '99	SINOTRANS
11,400 dwt 834 teu (590 at 14ts) 90 reefers / 18,0kn on 33ts 12 Mos FE trade	13,450

Hudson Strait '99	extn Magistral
11,400dwt 834teu (590 at 14t) 80 reefers / 18.5kn on 33 for further 24 mos Korea/Russ CIS	13,000

Helga '03	Teamlines
8622 dwt 822 teu (507 at 14ts) 150 reefers / 18,5kn on 36,5ts 12 opt 12 mos Nth Europe trade	eur 8,100

Geared

Priwall '97	MSC
36,690dwt 2480teu (2084 at 14t) 150 reefers / 20.5kn on 71.8 for 48 months wwide trade	24,500+

Cape Race '93	extn MSC
35,071 dwt 2259 teu (1920 at 14ts) 300 reefers / 20,0kn on 67,5ts 36 Mos Cont/IOC trade	24,000

Lindavia '96	Maersk Sealand
30,615 dwt 2078 teu (1705 at 14ts) 400 reefers / 21,5kn on 73ts 2-3 Mos FE trade	29,250

Westerhamm '98	COSTA CONT. LINE
30,300 dwt 2064 teu (1650 at14ts) 400 reefers / 21,5kn on 73ts 30-33 Mos WW trade	26,500

Elisabeth '94	extn GWSC
29,930dwt 1806teu (1472 at 14t) 150 reefers / 19.5kn on 44.5 for further 24 months transpac trade	24,000

Santa Isabella '86	SITC
30,007dwt 1742teu (1527 at 14t) 100 reefers / 19.5kn on 50 for 24 mos Feast trade	25,000

Northern Happiness '94	Maersk Sealand
22,273 dwt 1709 teu (1177 at 14ts) 270 reefers / 19,0kn on 43 ts 12 mos Cont/Wafrica trade	22,300

Northern Harmony '94	extn Hmbg Sued
19,600dwt 1709teu (1177 at 14t) 72 reefers / 19kn on 43 for further 12 mos Cont/Med	23,000

Ilse Wulff '93	K-LINE
21,626 dwt 1667 teu (1080 at 14ts) 200 reefers / 20,0kn on 52ts 24 Mos Fe feeder trade	22,000

Harmony '94	extn MSL
21,480dwt 1576teu (1246 at 14t) 100 reefers / 19.5kn on 48.5 for further 24 mos Algeciras/W Africa trade	22,750

San Fernando '96	Hanjin
20,219 dwt 1512 teu (1189 at 14ts) 150 reefers / 20,0kn on 48ts 24 mos WW trade	21,300

Olivia '95	extn BTL
20,150 dwt 1388 teu (1014 at 14ts) 150 reefers / 19,0kn on 46ts 1 Mos FE trade	22,100

New Hope Star '84	extn Dongnama
22,014dwt 1364teu (1010 at 14t) 80 reefers / 18kn on 43 for 12 mos Feast trade	17,750

Merkur Sea '84	KMTC
21,888dwt 1302teu (1010 at 14t) 50 reefers / 18kn on 40 for 3 mois Feast trade	17,000

Trina Oldendorff '00	MSC
20,100 dwt 1301 teu (1000 at 14ts) 63 reefers / 17,0kn on 29,5ts 28-30 Mos WW trade	14,000

Cape Fox '03	Yang Ming
18,400dwt 1200teu (870 at 14t) 150 reefers / 19kn on 38 for 4 years wwide trade	14,650

Sophie Schulte '96	ACL
14,080dwt 1162teu (725 at 14t) 100 reefers / 17kn on 30.5 for 1 TA round	15,725

Ocean '96	extn MSL
14,630dwt 1122teu (748 at 14t) 150 reefers / 19kn on 44 for further 12 mos Med/Bl Sea trade	15,900

Weisshorn '96	MSL
14,630dwt 1122teu (748 at 14t) 150 reefers / 19kn on 44 for 12 mos Med/Bl Sea trade	15,900

Manila Bay '84	extn Asiatic
20,200 dwt 1095 teu (815 at 14ts) 100 reefers / 17,5kn on 46ts 12 Mos WW trade	13,250

Merkur Lake '94	CMA/CGM
12,574 dwt 1012 teu (636 at 14ts) 100 reefers / 18,0kn on 31ts 24 Mos WW trade	13,950

Grand '92	extn PONL
12,583dwt 1012teu (647 at 14t) 90 reefers / 17.5kn on 28.5 for further 24 months Med trade	14,150

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