New ConTex: Upward movement slowed down
(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.