Press releases

(13.4.2018) The New ConTex index increased to 495 (+8) points during last week. Across all segments, the New ConTex increased for another week. The last slight decline was observed for 2,700 teu over 12 months in late February.

Currently, the New ConTex is at its highest standing since August 2015 with an increase of over 100 points Year-on-Year. Moreover, Y-o-Y figures are up as much as 30.2% (1,100 teu), with only the 4,250 teu segment in the single-digit growth numbers for 12 and 24 months respectively. All segments have moved up between 1.3% and 2.3% week-on-week, with the largest increase observed in the 2,700 teu segment for a 12-months period. All figures have also moved up Month-on-Month at least 7.4%, with the 2,700 teu segment improving as much as 13.3%.

Strong fixing activity over the last weeks has led to a decreased idle fleet of less than 100 vessels promptly available. Recent vessels contracted were employed for periods between six and twelve months, indicating a healthy supply/ demand balance currently in the charter market.

(06.04.2018) The New ConTex continued its upward movement. This week, it rose by 9 points to 487 and resulted in the highest quotation since August 2015. All segments registered rate increases between 0.5 and 3.7%.

The biggest jump in rates over the past week has been seen in the panamax segment. The rates of 3,500 TEU vessels increased 3.7% to USD 11,861 per day over a period of 24 months, whilst the 2,700 TEUs class as well as the 1,100 TEUs class gained 2,7 percentage points which correpsonds to a rate of USD10,782 and USD8,343 over a period of 12 months. The 2,500 TEU segment attained rather marginal gains.

Activity will most likely stay firm during the coming weeks. Tonnage for most vessel types remains popular and we currently do not see any market deterioration.

(23.03.2018) The positive trend remain unchanged– Owners can see in all segments a fairly good demand with less tonnage supply. Sizes between 1700 TEU nominal and 3500 TEU nominal getting fixed at 5 digits while the 4250 TEU segment is still close to that new level/benchmark.

Compared to New ConTex March 2017 – 2018 (Year – on – Year) we can see an improvement between 23,8% for the 1100teu segment basis 12 mos valuation upto 52,6% for the 1700 TEU / 12 month valuation. Again it is notable that so far the 1100 teu segment is showing the smallest improvements.

Outlook – with the unchanged very active market owners will try to set new benchmarks in all segments and Charterers / operators might be forced to cover their windows sooner than later.

(16.03.2018) The New ConTex index continues its upward trend and reached 456 points (+7). A busy charter market and a nearly full employed tramp container fleet is further supporting the market recovery. All New ConTex segments registered gains in the region of 1 - 2.3% w-o-w. The biggest winner is the 2.500 TEU segment which increased by 2.3% w-o-w (basis 12 mos evaluation) backed by healthy demand and a solid number of fixtures including new benchmarks.

Even though the Alphaliner idle fleet increased within the last month due to the Chinese New Year aftermath the current level is not expected to last long. The liner-controlled idle capacities should shrink soon after the vessels will re-join their trades in the coming weeks. The remarkably busy charter market is also triggering the decrease of idle tramp vessels.

Notable the operators appearing on the list of reported fixtures since early March are broadly mixed. Beside the “Big Three” (Maersk, CMA CGM, MSC), CHINA COSCO and ONE all of the TOP 15 liner companies and a bunch of niche carriers are accountable for the high fixing activity, pushing up rates and further balancing the supply and demand situation.

(2.3.2018) The container charter market has not taken any breather during the lunar new year holidays and the first full working week after all market participants have returned to their desk was characterised by lively activity. With the overall relatively limited supply of available tonnage across the board, gains can be registered in all New ConTex segments. Although we monitor a relatively homogenous increase, the biggest winner this week is the 1700 TEU segment increased by 1.5% closing at USD 9,828 followed by the 1100 TEU segment gaining 1.2% week on week. With the prevailing positive sentiment combined by reduced numbers of available tonnage we do believe to experience further recovery in time charter rates.

(16.2.2018) Despite the chinese new year holidays the charter market continues to be fairly active in all segments. Idle fleet has become minimal and with uncovered demand for March-April the holidays are not expected to have any impact on rate developments.

The New ConTex was up a further 3 points this week and similar to the previous week the 4250 TEU segment experienced the highest gain for both the 12 and 24 months rating with a 1,9 pct gain this week.Present indications point however towards the 1700 and 3500 TEU segment which recorded continued improvement but indeed holding further upward potential. Both segments appear to lack tonnage which likely to influence the market during the coming month.

(9.2.2018) In the pre-Chinese New Year week the New ConTex has been stepping sideways respectively with a very moderate upward trend.

Considering however an idle fleet staying well below 2 percent overall and a firming of the box rates which have, as per Shanghai Freight Index, increased more than 20 percent since early December, 2017 the sentiment remaining still fairly positiv and should continue after the Chinese New Year Celebrations.

The New ConTex stepped up another 3 points and stands at 432 which is now 43% more on a year-on-year basis. All the component rates were marked at least marginally higher with only one exception of the 2500 TEU size which lost 0,2% basis 12 month respectively stayed at same rate basis 24 month. The biggest winner in this week was again the 4250 TEU size with another 2% increase basis 12 month and 1,3% basis 24 month.

(2.2.2018) The month of February has always been a crucial month to observe the further development of the charter rates. It's the month of the CNY and therefore a quiet month is expected but the key difference is that the increased rates of the last months of 2017 have remained stable and even increased during the first month of 2018. If we take a look at the New ConTex development we will see that the rates have upward stable trends (+ 5 points or 1.2%).

Some pressure is expected at the advent of CNY but this remains to be seen as there are not many vessels available. But no time for celebrations yet. February should be a month of cautious optimism.   

(26.1.2018) The container market continues to develop in the way the new year started, with rising cargo volumes combined with a shortage of ships in most sizes and in most regions. The result is an improvement in rates accoss the board at a time such a trend would be least expected (even when the market was much higher than these days).

The New ConTex Index has gained a further 7 points on last week and now stands at 424. All the component rates were marked higher again, further evidence that the market recovery is uniform rather than patchy.

Another phenomenon is that each sector is experiencing fairly similar gains since last week, with rates being marked typically in the range of 0.7 to 2.2 percentage points higher. Once again the classical panamaxes (4250 TEUs) are recording the greatest improvement (2.2% basis 12 months and 1.9% basis 24 months). The smallest gains were seen in the 2700 TEUs (0.7% basis 12 months and 0.9% basis 24 months) but, even here, the improvements should be judged by the time of year.

(19.1.2018) This week the New ConTex moved another 6 points (=1,5%) up, which is confirming the overall trend in the market where the signs remain positive.Todays level of 417 points was last seen in  Autumn 2015 with 416 points on 15th October 2015! The Index is now continously going up since mid Novermber 2017 coming from 399 points. A year ago the ConTex remained around 300 points from mid October 2016 until end February 2017.

Every segment in the New ConTex is actually showing positive tendency compared to the week before. Highlighted in actual rates by the 1700 TEU size basis 12 mos evaluation with an increase of more than USD 200 daily as we expected already in our commentary last week. 

The biggest gain was actually seen in the Panamx (4250 TEU) evaluation for the 12 mos period with USD 252 daily = 3,1% on a Week-on-Week basis.

This general trend will likely continue, especially in the smaller sizes, as Owners successfully aim for an increase on hire levels compared to "last done".