(01.09.2017) The New ConTex Index has continued its positive development and gained additional four points week-on-week. In total the Index rose by 15 points in August and now stands with 394 points at a level close to the market benchmark of 400 points. Likewise 50% of the incurred losses, since the downward trend from this year’s peak level of 410 points set in in mid May, have been recovered.
The driving force behind this development is the healthy demand for Post-Panamax tonnage which was exceptionally developed throughout the summer months. The tonnage scarcity in the larger segments continues to stimulate rates for the smaller sizes.
Accordingly the 4,250 Teu segment has increased by another 4.8%/3.8% week-on-week or remarkable 22.4%/18.6% month-by-month for a 12/24 months evaluated charter period. Volatility for this vessel type however is notably pronounced this year. For units with a capacity between 2,500 Teu and 3,500 Teu and a charter period of 12 months the Index indicates a steady upwards trend with increases of 1% to 1.3% last week. Rates for the remaining segments move mainly sideways with gains below 1%. With the upcoming of the traditionally busy fall season the positive development of the New ConTex Index is expected to continue.