Press releases

(21.07.207) Although the integration of large newbuildings which is indirectly impacting the Charter Market, Owners remain hopeful that the continued tightening of prompt available ships will finally result in more substantial rate increases.

For the time being the New ConTex is drifting in all segments sideways on the same ratelevel as last week.

On a month on month basis there is a slight downward trend from 388 to 381 points with the biggest jump again reported in the 4250 TEU size of -8,9% for 12 month and -6.4% for 24 month followed by -5.3% for 12 month and -2.5% for 24 month in the 3500 teu segment.

The trend in the mid sizes becomes marginal with only -4.2% resp. -3.5% for 12 month and just -2.7% and -2.4% for 24 month for the 2700 and 2500 teu sizes and it has to be seen if this slight weakening is going to continue despite it looks as if only a view vessels in this segment coming available during the forthcoming weeks.

In the 1100 and 1700 teu segment there are no real reportable changes.

(14.07.2017) The market has slowed down a bit due the summer as historically tends to, the mood of operators seems a bit to be wait and see especially in the bigger segments. One of the segments that was mainly affected is the Panamax segment that is facing a downturn in the last weeks even though now it seems having reached a sort of stable level assessed around USD 7,300 for 12 months period. The 2800 TEU segment seems still stable in Asia where vessels are still managing to secure charterers at around USD 9k whereas in the Atlantic some spot tonnage are starting to build up and has to be seen how this will impact rates there.

In the smaller segment namely 1700 and 1100 the market has been moving sideways recently. In the 1100 the Atlantic is stronger than pacific whereas in the 1700 teu segment the situation is fairly similar, except for Caribs where the rates achievable seems to be higher.

Overall the situation is better compared to one year ago, especially because in Spring this year we saw a considerable rates increase shown in the New ConTex index accordingly in nearly all segments, especially 2,500-2,800-3,500 and 4,250

(09.06.2017) The New ConTex followed its trend of the last 2 weeks and dropped another 3 points during last week. The Index is now back below the 400 mark at 398 points, which we saw last in April this year (week 16).

Last week all the Week-on-Week rates were already in red, but at least some (2500 and 2700Teu) of the Month-on-Months rates still remained in black we saw that last week even these number slipped into red basis M-o-M.

Mainly all sizes basis W-o-W are just showing small decreases (around/less then 1%) and only the old Panamax size of 4250 Teu is down by more then 2% in both evaluations (12 mos and 24 mos). We do fear that the above mentioned trend may till continue as especially the old Panamax size may likely suffer further.

(26.5.2017) The New ConTex Index has lost ground for the first time this year, shedding 3 points to stand at 407. Whilst not unexpected because of the current weakness in the old panamax 4250 TEU class, it nevertheless comes as a small shock to those hoping the market would continue its upward trend even at a much slower pace that witnessed recently.

Although the 4250 TEUs have experienced the largest losses, being marked down 2.4% and 3.0% (24 months and 12 months respectively) since last week, all the sizes tracked by New ConTex have been marked lower. The 3500 TEUs have also begun to lose ground, contrary to the expectation of market watchers who had assumed that the scarcity of such units to the market would have maintained rate levels; unfortunately the demand for 3500 TEUs has fallen away sharply enough to overcome this scarcity. The 3500 TEUs have been marked 1.3% and 1.5% (24 months and 12 months respectively) since last week.




(19.05.2017) The New ConTex index has remained unchanged at 410 points since last week, with most segments remaining fairly flat week on week. Despite this lackluster performance, the index has not been at this level since October 2015. The 1,100 TEU charter rates were on the decline last week, falling $28 to $6,616 week on week. Significantly, while there has been a month on month increase for the 1,100 TEU segment, rates remain comparatively low to a year ago.  Vessel segments between 1,700 TEU and 2,700 TEU could achieve slight improvements in their individual sub-indices, increasing on average around 0.5% week on week. Again, looking back to last year, from the 2500 TEU and larger, the segments have fared well, increasing between 37-51% year on year. After impressive increases in April, the classical Panamax, 4,250 TEU index was again the largest loser this week, losing 1.6% in the week-on-week, to stand at $11,187 today.

(12.05.2017) The pace of the New ConTex´s upward movement has clearly slowed down. This week the index rose by 2 points only. However, the index is still rising. Since the beginning of the year it increased by astonishing 161 points which equals an increase of approximately 39.5%. 

Looking at the sub-indices the main driver of the recent slowdown becomes apparent. While all vessel types could achieve an increase in the week-on-week comparison, the old panamax class of 4,250 TEU slackened. Hence, it can be identified as main cause of the increase´s deceleration.

Nevertheless, for certain vessel types as e.g. sub-panamaxes between 2,000 – 3,000 TEU supply is still scarce which could lead to further upward pressure on charter rates for these vessel types.

(27.04.2017) It is 18 months ago, that the New ConTex has been on a level above 400 points. With an increase of 1,5 %, respectively 6 points more than last week, crossed the border again and let the index finish the month of April at 405 points.

All size and period categories ended the week with moderate improvements with one exception only: the 12 months evaluation for the 4250 TEU Panamax class lost on a w-o-w basis USD 38,- resp. 0,4% and broke the 5-digits area back to USD 9.986,- only. Nevertheless, specially the 12 months evaluation of the Babypanamaxes is still leading the y-o-y change with an outstanding increase of 87 per cent.

 In general, it can be mentioned that the Easter holiday break a fortnight ago did not harm the activity level too much and yet the number of fixtures concluded remains fairly stable. The only “downer” to be mentioned is still the situation that the recent successful improvement of the charter hire rates for the bigger units has not cascaded down so far to the smaller feedership units, which still need to catch up further.

(31.3.2017) The market improved further in almost all segments except for the classes below 1700 TEU.

Looking at numbers the segments which made the biggest step upwards were the 2500 TEU and 2700 TEU sizes as well as the panamaxes. The one segment that is most impressive in terms of rate gains is undoubtedly the panamames that have now gone up more than 100 pct from beginning of the year.

When it comes to the 2500 TEU the increase happened quite rapidly, this week one standard 2500 TEU was fixed at low 9´s in the med for a comparably strong period of 6-9 months and the ConTex reacted accordingly with the value for 6 months that went up from low USD 7´s to low 8´s in just one week with further improvement to likely follow next week.

The feeders below 2000 TEU are still struggling to follow the upswing of bigger segments, especially in the Atlantic.

(24.3.2017) The New ConTex improved by a further 4,5 pct during the week and has reached the same level of 341 as seen a year ago.

The market is active in all segments and generally the periods actually concluded are longer and less flexible compared to just a month ago but operators are clearly reluctant to commit on longer periods which partly explains the willingness to improve charter rates.

With the gaps to be covered by the Alliances large tonnage dissapears and with new panamax demand and still with uncovered forward positions the 4250 TEU segment benefits with charter rates improving steadily and with a slight delay similar improvements are seen in the 3500 TEU segment.

New ConTex levels for the 2500-2700 TEU segment may appear undervalued. The Asian Market appear balanced but the Atlantic is short of supply. The feeder segments of 1100 and 1700 TEU has indeed seen improved trading conditions and the trend is firming but still appear somewhat vulnerable.

(17.03.2017) The obvious shortage in the larger size segment with a record number of fixtures is now filtering down to the medium-sizes with a sharp improvement especially on the figures for the 4,250 teu segment of as much as 23% in just one week or even 41.8% on Month-on-Month basis on the 12 months charter rates. Considering this it is no surprise that the New ConTex went up from 314 to 325 points which however is still below the 341 points reported one year ago.

Although overcapacity in general remains extant the number of spot or idle ships is falling sharply across most sizes, except for tonnage under 2,000 teu. As a consequence the 1100 and 1700 teu vessels still remain more or less on the same level as last week with only marginal changes.

Following the 4,250 teu segment also the 3,500, 2,700 and 2,500 teu vessels slowly but not to the same extend yet following the present positive development. A combination of second-hand and demolition sales, as well as regular flow of enquiries should further reduce the available capacities. As a result, charter rates have started increasing and it has to be seen if a more substantially rise in the next weeks will be possible.