The upward trend which had appeared to slow down seems to be speeding up again. The ConTex index has risen 6 points over the week and now stands at 429.
Detailed analysis of the index shows there are no exceptions this week with all the component sizes being marked higher. After weeks of relatively poor performance it is the 2500 TEU geared sector which has displayed the best results, gaining 2.7% week-on-week basis 24 months and 2.6% week-on-week basis 12 months.
The other geared sizes - 1100 TEUs and 1700 TEUs - are finding the market rather sluggish compared to the larger sizes but at least Owners can draw some comfort that rates are rising, even if at a very modest pace.
The 4250 TEU Panamaxes continue to make steady progress while the other gearless sizes tracked by New ConTex are actually recovering at a higher trajectory.