(18.12.2015) Another week, another drop of the New ConTex, now down to 339 points. This slower decrease is seemingly indicating once again that we are hopefully reaching the rock bottom. It remains to be seen though at what levels a business still makes sense for an Owner these days and to what extent Charterers can take advantage of the distressed market.
All sizes keep the downward trend while the 1100 TEU segment remains 'strong' at USD 6,643 and the 1700 TEU segment still at USD 7,581 while the 2500 TEU at USD 6,215 and the 2700 TEU at USD 6,573 for 12 months are coming closer towards the even weaker larger segments. The 3500 TEU segment though faced the biggest drop this week, down to USD 6,135 for a period of 12 months. The 4250 TEU segment further dropped down to USD 5,895, which still remains the most pressurized amongst the listed sizes.
It will remain a very exciting market the coming months with Owners fighting to secure the few requirements over the upcoming holidays, while the Charterers will still try to push the rates further down and endeavour to establish more and more flexibility on the charter periods. There will surely be a point though, when Owners simply can not commit to present or even lower levels well below OPEX costs and agree to the flexibility Charterers are demanding on periods these days.