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Market Report

Container update 28th February, 2006


Charter market activity did pick up after the Asian Lunar holidays, however not as much as many commentators expected. Mixed signals are evident on the market with some fixtures offering hope for a stabilization in rates, whereas other fixtures indicate a further weakening. Many of these differences were sector / size specifc as you will read below. A focal point of alarm for the more pessimistic commentators was the news that GWSC will cease to operate. A one off or the start of things to come? A negative factor no doubt, but some expressed optimism at the relative ease at which the suddenly available tonnage was absorbed, albeit at drastically lower rates for the prompter, lesser specification ships.

Above 2000 TEU ZIM, CMA and MSC were the most active Charterers by fixing a handful of ships each in the 2500/2700 TEU size. Charter rates for these ships are ranging between usd 21,000 and 23,000 for 2 years' periods. A further interesting deal was the Seaspan purchase of two 3500 TEU Newbuildings combined with a reported 12 years charter to COSCO at USD 19,000 only.

Activity in the 1300 to 1900 TEU sizes remained slow and rates seemingly came under a little more pressure, especially those open in the Far East during the Asian holiday periods. For example reported that the Hansa Stavanger fixed 3 months at USD 16,500 for Account Samudera. Geared vessels that were open in the Atlantic basin had it a bit easier - the Newbuildings Viona and Helle Ritscher for instance both joined the SAECS service for 18 months at rates of USD 19,850.

The 1000teu sizes was the most active sector especially for Geared tonnage and rates generally remained stable. The Steindeich for example was able to secure a good rate of USD 14,750 net for 12 months with COSCO. Further evidence was provided with the rate and slightly longer period of the Pac Aquila to OOCL at USD 13,750 for a period of 18 months.


 
 
 

FIXTURES

Gearless

Seaspan N/B 1 ex Zhejiang Shipyard Feb '07 COSCO
42,000 dwt 3534 teu (2353 at 14ts)
500 reefers / 24,5kn on 133,0ts
12 years ww trade
19,000
   
Seaspan N/B 2 ex Zhejiang Shipyard Feb '07 COSCO
42,000 dwt 3534 teu (2353 at 14ts)
500 reefers / 24,5kn on 133,0ts
12 years ww trade
19,000
   
Kobe '86 ext MSC
43,066 dwt 3074 teu (2210 at 14ts)
153 reefers / 22,0kn on 92,0ts
ext 24 mos ww trade
19,000
   
Keelung '86 ext MSC
43,293 dwt 3032 teu (2450 at 14ts)
153 reefers / 22,0kn on 92,0ts
ext 24 mos ww trade
19,000
   
EOS 1 '96 ZIM
35,031 dwt 2908 teu (2040 at 14ts)
285 reefers / 22,0kn on 90,0ts
5 yrs ww trade
21,350
   
Sils '03 COSCO
39,386 dwt 2826 teu (2020 at 14ts)
554 reefers / 24,0kn on 95,0ts
5 yrs ww trade
21,000
   
Irenes Rainbow '06 NYK
39,500 dwt 2826 teu (2020 at 14ts)
600 reefers / 24,0kn on 95,0ts
24 mos ww trade
23,250
   
Cape Mollini \'06 CMA CGM
37,800 dwt 2742 teu (2115 at 14ts)
400 reefers / 22,0kn on 88,0ts
12 mos ww trade
22,500
   
N/B Westertal '06 CMA CGM
39,300 dwt 2732 teu (2267 at 14ts)
500 reefers / 22,0kn on 85,5ts
24 mos ww trade
22,150 net
   
N/B Conti Emden '06 ZIM
37,900 dwt 2702 teu (2095 at 14ts)
500 reefers / 21,7kn on 88,0ts
2 yrs ww trade
22,000
   
N/B Nordwoge '06 Seacon
34,800 dwt 2600 teu (1860 at 14ts)
600 reefers / 22,0kn on 89,5ts
abt 1,5 mos feast trade
18,000
   
N/B Nordwoge '06 MISC
34,800 dwt 2600 teu (1860 at 14ts)
600 reefers / 22,0kn on 89,5ts
24 mos ww trade
20,750
   
Merkur Star '95 CP Ships
41,380 dwt 2480 teu (2102 at 14ts)
150 reefers / 20,0kn on 72,0ts
1 cont / usg r/v abt 25-30 days
24,000 net
   
Merkur Star '95 MSC
41,380 dwt 2480 teu (2102 at 14ts)
150 reefers / 20,0kn on 72,0ts
24 mos ww trade
20,000
   
Trophy '90 US Lines
31,584 dwt 2228 teu (1896 at 14ts)
150 reefers / 18,75kn on 52,0ts
1 transpac r/v abt 35 days
15,000
   
Sea Bright '94 MSC
33,520 dwt 1965 teu (1600 at 14ts)
115 reefers / 19,5kn on 60,0ts
6 mos ww trade
15,000
   
Duburg '90 Dongnama
26,288 dwt 1743 teu (1315 at 14ts)
140 reefers / 18,7kn on 46,5ts
2-4 mos feast trade
16,000
   
N/B Adelina '06 TS Lines
20,600 dwt 1578 teu (1010 at 14ts)
130 reefers / 20,0kn on 55,0ts
7 mos feast trade
17,500
   
Arabian Express '97 Pu Hai
18,576 dwt 1439 teu (1140 at 14ts)
100 reefers /19,0kn on 36,0ts
12 mos feast trade
14,750
   
Magna Vision '89 Dongnama
23,724 dwt 1298 teu (1183 at 14ts)
70 reefers / 17,0kn on 34,0ts
ext 12 mos feast trade
14,700
   
Ulrike F '05 TS Lines
13,760 dwt 1118 teu (700 at 14ts)
220 reefers /19,6kn on 37,0ts
9 mos feast trade
13,500
   
N/B Josco Luck '06 Hanjin
12,400 dwt 1043 teu (655 at 14ts)
180 reefers / 18,0kn on 33,0ts
6 mos feast trade
11,000
   


Geared

Vasco da Gama '05 MSC
39,300 dwt 2732 teu (2184 at 14ts)
500 reefers / 22,5kn on 85,0ts
24 mos ww trade
21,000
   
HS Discoverer '03 ZIM
35,600 dwt 2674 teu (2040 at 14ts)
400 reefers / 21,5kn on 85,0ts
24 mos ww trade
21,250
   
CSCL Barcelona '01 opt CSCL
36,019 dwt 2672 teu (2040 at 14ts)
400 reefers / 22,0kn on 83,0ts
opt 24 mos ww trade
18,000
   
Buxcontact '02 ext Hamburg-Sued
33,807 dwt 2478 teu (1912 at 14ts)
410 reefers / 22,5kn on 81,0ts
ext 1 mos transpac trade
22,500
   
JPO Aquarius '00 CMA CGM
33,918 dwt 2474 teu (1912 at 14ts)
400 reefers / 22,0kn on 74,0ts
24-27 mos ww trade
22,800
   
Juturna '01 opt CSCL
33,917 dwt 2452 teu (1886 at 14ts)
400 reefers / 21,8kn on 75,0ts
opt 24 mos ww trade
17,500
   
Isidro '99 ext Hamburg-Sued
33,917 dwt 2442 teu (1884 at 14ts)
400 reefers / 21,8kn on 75,0ts
ext 36 mos Feast/Saf./ECSA trade
20,200
   
N/B Viona '06 Safmarine
22,200 dwt 1875 teu (1285 at 14ts)
385 reefers / 21,0kn on 67,0ts
abt 18 mos cont/safrica trade
19,850
   
N/B Helle Ritscher '06 DAL
22,200 dwt 1875 teu (1285 at 14ts)
385 reefers / 21,0kn on 67,0ts
abt 18 mos cont/safrica trade
19,850
   
Santa Isabella '86 BTL
30,007 dwt 1742 teu (1527 at 14ts)
100 reefers / 19,5kn on 47,5ts
6 months feast trade - relet fm sitc
17,800
   
Wehr Blankenese '99 opt CSAV
23,190 dwt 1730 teu (1125 at 14ts)
200 reefers / 19,5kn on 54,5ts
opt 12 mos cont/caribs trade
15,250
   
Sea Beta '05 Pan Logistics
23,579 dwt 1720 teu (1289 at 14ts)
300 reefers / 20,5kn on 60,0ts
36 opt 12 opt 12 mos aust. trade (bareboat)
15,000
   
Scio Star '87 opt BTL
23,465 dwt 1597 teu (1152 at 14ts)
80 reefers / 18,0kn on 45,0ts
opt 12 mos feast trade
12,500
   
Hansa Stavanger '97 Samudera
20,526 dwt 1550 teu (1029 at 14ts)
198 reefers / 20,0kn on 49,0ts
3 mos feast trade
16,500
   
Birte Ritscher '95 ZIM
20,346 dwt 1452 teu (1011 at 14ts)
150 reefers / 19,0kn on 42,0ts
12 mos med trade
16,585
   
Rio Rubio '99 MSC
20,501 dwt 1300 teu (1000 at 14ts)
63 reefers / 17,0kn on 30,0ts
12 mos ww trade
11,500
   
Steindeich '96 COSCO
18,355 dwt 1203 teu (820 at 14ts)
150 reefers / 19,5kn on 45,0ts
12 mos ww trade
14,750 net of addcom
   
Lucien G.A. '02 TS Lines
17,254 dwt 1199 teu (912 at 14ts)
178 reefers / 19,0kn on 47,0ts
7 mos feast trade
13,500
   
Katrin S '95 CMA CGM
14,454 dwt 1104 teu(765 at 14ts)
150 reefers / 19,0kn on 38,0ts
12 mos ww trade
13,000
   
Pac Aquila '02 OOCL
16,794 dwt 1078 teu (858 at 14ts)
200 reefers / 19,5kn on 51,5ts
18 mos feast trade
13,750
   
Alianca Andes '97 ext Hamburg-Sued
12,380 dwt 1012 teu (636 at 14ts)
90 reefers / 17,0kn on 30,0ts
ext 6 mos wcsa/ecsa trade
11,975
   
Cape Bonavista '92 ext CMA CGM
10,200 dwt 922 teu (590 at 14ts)
80 reefers / 17,0kn on 28,5ts
ext 6 mos ioc trade
11,500
   

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