New ConTex gains again, Panamax + 25%
(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.