Pressemitteilungen

(20.11.2015) The New ConTex has dropped another 6 points within this week. Compared to the previous weeks this is the smallest decline but considering the already very low market it is alarming to see that the charter rates are still dropping. Very low bunker prices and freight rates are pushing all markets down and Owners as well as Operators are having a tough time trying to break even. In some size segments, especially in the larger ones, vessels are even fixed below the OPEX costs. This means very challenging times for all parties, especially when taking into consideration that most likely nothing much positive will happen until after Chinese New Year. On a Month-to-Month basis the 4250 and 3500 TEU-Types have experienced the biggest decline - the spot-list of vessels is growing in most segments. Many Operators are working on employing their own idle vessels instead of fixing or extending chartered vessels.

(13.11.15) This week the New ConTex dropped by 9 points. Although the index is still rapidly moving south, this marks the lowest New ConTex decline in seven weeks. While Type 1100 (-1.0%) and Type 2500 (-1.9%) acquired only moderate decreases, all other vessel types fell by more than 2% this week. With 6.1% Type 3500 incurred the biggest weekly decline. On a year-on-year basis Type 3500 (-13.3%) and Type 4250 (-36.1%) suffered the biggest losses. Only Type 1100 and Type 1700 still remain above their previous year´s New ConTex assessment level.

(6.11.2015) The New ConTex Index shed another 12 points this week and now stands at 373. Once again all the component rates have been marked down with the larger sizes (3500 TEUs and 4250 TEUs) continuing to bear the heaviest losses. Indeed, in the case of the 3500 TEUs, the loss basis 12 months was a rather dramatic 7.5% week-on-week.

The container market is clearly experiencing very challenging times at the moment. It is anticipated that the number of idle ships will reach 300 units in the next few weeks - representing nearly 6% of the fleet - with worse expected to come during the slack season from December through to (some time after) Chinese New Year.

What is perhaps more alarming is that operators appear to be idling some of the young very large ships in excess of 13000 TEUs which, just a few years ago, were supposed to be the vanguard of the new era! Tramp Owners can unfortunately be assured that operators will trim their chartered fleets where possible before idling their own ships.

(29.10.2015) We are living in a chartering world of pain! The New ConTex has fallen to a level of 385 points which was last recorded in January 2015. From the 2015 peak recorded in June, the index has shed 32%. All segments are experiencing lower TC levels combined with very flexible charter periods. The Charterers are very much in the drivers' seat and dictate terms to the shipowner who is the "lucky" one getting the chance to negotiate. A lot of other vessels in spot or prompt positions do not even get the chance to offer. Alphaliner has published quickly rising idle numbers which are expected to break 1 million TEU any time now. But how much more can hire levels drop when some segments have already reached OPEX levels of vessels? Is it in the Liner Industry's interest to make Owners manage their vessels basis mega-tight budgets with the risk of technical trouble and a lower vessel's performance ? Presently we are heading into very difficult waters.

(23.10.15) The negative trend is unchanged as seen last weeks and consequently the NEW CONTEX reported a 16 points decrease closes at 400 points. Compared to 1st October it is negative shift of 40 points. Again the Panamax market has seen heaviest pressure with -8,9% on week-on-week basis or even more than 30% on month-by-month / 12 months valuation - basis. Also all other segments suffering as well with results between -2,6% (1100 TEU) upto -5,7% (3500 TEU). With further negative signals being reported it is unlikely that we will see a positive change soon.

(9.10.15) Also the beginning of the 4th quarter of the year did not change anything in the direction of the New ConTex development and so the index lost on w-o-w basis another 11 points (-2,5%) to a level of now 429 points. Themed by “the bigger, the worse”, one can see that the smaller units in the classes between 1100 and 2700 TEU lost moderately only (with -0,9 to -2,5% compared to last week); the evaluated classes of 3500 TEU as well as the Baby-Panamaxes with 4250 TEU, however, had to accept further reductions between -4,1% (24 mos evaluation for the 3500 TEU ships) and upto - 6,5% (12 mos evaluation for the 4250 TEU class). In this current rollercoaster setting with fairly volatile rate developments it is not much of a surprise – owed to the strong supply/demand imbalance in certain segments – that the situation appears to charter bigger ships for smaller money.

(2.10.2015) The New ConTex continues its contraction this week and closes at 440 points, a 3.3% decrease from week 39. Compared to last month, the overall index lost 37 points, a 7.8% drop from 477. The Panamax segment encounters the strongest decline and loses USD 943 or 7.2% this week, basis 24 months. Based on a 12 months period, this segment is even reaching a USD 1.198 plunge which is equivalent to a negative 10.1% compared to last week.

The 2500 TEU segment lost another USD 220 (-2.5% w-o-w) and the 3500 TEU segment closed at USD 10.664 which is a further decline of USD 457 compared to last week. The smaller sizes seem less affected by the negative trend. Whilst the 1100 TEU is showing week on week changes of -2.0%, the 1700 TEU segment decreased by -1.9%.

The overall New ConTex is still at 18.3% above last year's performance, but in view of the general downward trend it remains unclear how long the market will stay above these levels.

 

(24.09.15) The New ConTex closes week 39 at 455 points and continues the downward trend on a w-o-w and m-o-m basis, however it stands +23.0% on a y-o-y basis. The panamax segment remains under heavy pressure loosing USD 825 in a m-o-m basis but remains 25.9% above last year (12 months). The smaller sizes - 1100 TEU & 1700 TEU - show little change on a w-o-w basis with  a drop of 1.5% for the 1100 TEU and 1.6% on the 1700 TEU.

(25.09.15) The New ConTex closes week 39 at 455 points and continues the downward trend on a w-o-w and m-o-m basis, however it stands +23.0% on a y-o-y basis. The panamax segment remains under heavy pressure loosing USD 825 in a m-o-m basis but remains 25.9% above last year (12 months). The smaller sizes - 1100 TEU & 1700 TEU - show little change on a w-o-w basis with  a drop of 1.5% for the 1100 TEU and 1.6% on the 1700 TEU.

Although the pace of the market decline appears to be slowing at least for the moment, the fact that it is declining at all given the time of year is of course a disappointment for Owners. September and October are usually months when rates are expected to be on the rise. The New ConTex index shed another
3 points and now stands at 472. Yet again all sizes were marked down with the 2700 TEU gearless class declining the most, at 1.9% over the week whilst the 3500 TEUs gearless class was managing to hold on almost unchanged. Given the disappointing developments in cargo volumes and the significant amount of
capacity continuing to join the fleet, conditions look set to be rather challenging in the months ahead.