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Market Report

Container update 15th November, 2004


The chartering activity during the last fortnight was fairly strong despite only a handful of ships left unfixed for the remainder of the year. The majority of these deals have been for onward fixtures with delivery well into next year. Furthermore the Eisbeinessen in Hamburg did not seem to have a huge impact this year by lowering the chartering activity as we experienced in former years.

In the bigger size above 2000 TEU it were a few newbuildings around 2800 TEU that caught the markets attention. Tsakos has finally fixed their '05 deliveries to Evergreen at the same rate (USD 26,000) that Passat Shipping fixed recently to CSAV. More remarkable were even the four 2700 TEU newbuildings from Schoeller and Thien & Heyenga which went to GWSC for a period of 5 years at USD 22,500 but with delivery only in 2006. GWSC is supposed to replace existing tonnage in the Transpacific trade with these four units in order to maintain / secure their market share in the future. One might come to the conclusion looking at above fixtures that Owners are obviously able to achieve juicy premiums for prompter tonnage / deliveries.

In the segment between 1300 and 1900 TEU we should not fail to highlight the fixture of the Samaria for a 3 years period to Costa Container Lines at a very remarkable rate of USD 27,000. This is exactly USD 2,000 more what the comparable Hansa Flensburg, being however a bit slower, obtained just two weeks earlier. Worth mentioning are also the extensions of four Hansa C-Types with Maersk Sealand for about 2,5 years at USD 24,500. Maersk is employing those ships in their Wafrica service due to their shallow draft but very good intake.

Around 1000 TEU the extensions of the B183 Types Judith Schulte and Hansa Berlin for 3 years at usd 15,000 to PONL are as noteworthy as the fixtures of the two Interorient N/B's Olympic Racer and Olympic Sprinter which went to Sinotrans for the established period of 3 years at usd 16.100. As far as we are concerned this segment has been proven to be the most dynamic one in the last couple of weeks.

With the demand - supply situaiton still looking unbalanced for the coming months, there is an expectation that market rates will continue to increase, although perhaps not at the speed we have experienced in the first three quarters of 2003.


 
 
 

FIXTURES

Gearless

Irenes Remedy '05 Evergreen
39,500 dwt 2826 teu (2020 at 14ts)
600 reefers / 24,0kn on 95,0ts
5 yrs ww trade
26,000
   
Irenes Reliance '05 Evergreen
39,500 dwt 2826 teu (2020 at 14ts)
600 reefers / 24,0kn on 95,0ts
5 yrs ww trade
26,000
   
Northern Virtue '96 extn MSC
40087 dwt 2808 teu (2110 at 14ts)
400 reefers / 22,0 kn on 102,0ts
5 yrs ww trade
26,000
   
Northern Valour '96 extn MSC
40087 dwt 2808 teu (2110 at 14ts)
400 reefers / 22,0 kn on 102,0ts
3 yrs ww trade
26,000
   
Cape Mondego '06 GWSC
37,800 dwt 2742 teu (2115 at 14ts)
400 reefers / 21,8 kn on 88,0ts
5 yrs ww trade
22,500
   
Cape Mollini '06 GWSC
37,800 dwt 2742 teu (2115 at 14ts)
400 reefers / 21,8kn on 88,0ts
5 yrs ww trade
22,500
   
Stadt Wismar '06 GWSC
38,000 dwt 2742 teu (2113 at 14ts)
400 reefers / 21,8kn on 88,0ts
5 yrs ww trade
22,500
   
Stadt Rostock '06 GWSC
38,000 dwt 2742 teu (2113 at 14ts)
400 reefers / 21,8kn on 88,0ts
5 yrs ww trade
22,500
   
German S '90 extn MSC
31,551 dwt 2206 teu (1800 at 14ts)
100 reefers / 18,5kn on 55,0ts
36 mos usec/ecsa trade
23,000
   
Cape Falcon '03 extn P&O Nedlloyd
18,400 dwt 1200 teu (870 at 14ts)
150 reefers / 19,0kn on 44,0ts
48 mos ww trade
16,500
   
Olympic Sprinter '05 Sinotrans
13,760 dwt 1118 teu (710 at 14ts)
220 reefers / 19,5 kn on 36,0ts
36 mos ww trade
16,100
   
Olympic Racer '05 Sintotrans
13,760 dwt 1118 teu (710 at 14ts)
220 reefers / 19,5kn on 36,0ts
36 mos ww trade
16,100
   
Beluga Magican '05 SITC
10,600 dwt 917 teu (610 at 14ts)
200 reefers / 18,0kn on 29,0ts
36 mos feast trade
15,000
   
Beluga Mastery '05 SITC
10,600 dwt 917 teu (610 at 14ts)
200 reefers / 18,0kn on 29,0ts
36 mos feast trade
15,000
   
Beluga Majesty '05 SITC
10,600 dwt 917 teu (610 at 14ts)
200 reefers / 18,0kn on 29,0ts
36 mos feast trade
15,000
   


Geared

Commodore '01 NYK
35,600 dwt 2762 teu (2050 at 14ts)
400 reefers / 22,2kn on 100,0ts
5 yrs ww trade
26,000
   
Wehr Oste '02 extn Hapag-Lloyd
33,795 dwt 2526 teu (1895 at 14ts)
481 reefers / 22,0kn on 74,0ts
3 years ww trade
29,750
   
Santa Maddalena '94 Evergreen
29,744 dwt 1808 teu (1527 at 14ts)
300 reefers / 20,0kn on 50,7ts
40 mos feast trade
25,250
   
Hansa Flensburg '00 extn ANZDL
24,000 dwt 1740 teu (1295 at 14ts)
296 reefers / 20,5 kn on 58,0ts
36 mos aussie/uswc trade
25,000
   
Samaria '00 extn Costa Cont. Line
25050 dwt 1716 teu (1305 at 14ts)
250 reefers / 22,0kn on 64,0ts
3 yrs ww trade
27,000
   
Buxsailor '93 KMTC
23,465 dwt 1684 teu (1152 at 14ts)
152 reefers / 19,0kn on 48,0ts
8 mos feast trade
23,500
   
Henriette Schulte '97 Hamburg Sued
22,400 dwt 1684 teu (1100 at 14ts)
220 reefers / 20,0kn on 49,5ts
42 mos ww trade
23,000
   
Hansa Calypso '98 extn MSL
21,480 dwt 1645 teu (1126 at 14ts)
120 reefers / 19,0kn on 49,0ts
28-30 mos med/wafrica trade
24,500
   
Hansa Centurion '98 extn MSL
21,480 dwt 1645 teu (1126 at 14ts)
120 reefers / 19,0kn on 49,0ts
28-30 mos med/wafrica trade
24,500
   
Hansa Caledonia '98 extn MSL
21,480 dwt 1645 teu (1126 at 14ts)
120 reefers / 19,0kn on 49,0ts
28-30 mos med/wafrica trade
24,500
   
Hansa Riga '94 extn MSL
21,480 dwt 1641 teu (1206 at 14ts)
120 reefers / 19,0kn on 49,0ts
28-30 mos med/wafrica trade
24,500
   
Nordlake '94 YML
22,450 dwt 1524 teu (1115 at 14ts)
120 reefers / 20,0kn on 49,5ts
6 mos ww trade
25,750
   
Mellum '97 New Orient Line
20406 dwt 1302 teu (960 at 14ts)
63 reefers / 16,0 kn on 30,0ts
12 mos Feast trade
18,100
   
Victoria Strait '02 Wan Hai Lines
13,760 dwt 1118 teu (712 at 14ts)
220 reefers / 19,6kn on 39,3ts
42 mos feast trade
14,950
   
Judith Schulte '93 extn P&O Nedlloyd
12,577 dwt 1016 teu (645 at 14ts)
90 reefers / 17,5kn on 30,5ts
36 mos ww trade intn caribs
15,000
   
Hansa Berlin '93 extn P&O Nedlloyd
12,582 dwt 1016 teu (636 at 14ts)
120 reefers / 17,5kn on 29,0ts
36 mos ww trade intn caribs
15,000
   

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