Panamax segment lifts up by 23%

(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.