(4.3.2016) The New ConTex development provided more of the same this week. The one point improvement of the index well represents the prevailing sluggishness of the last weeks. For the sizes between 2500 TEU and 4250 TEU rates continue to hover around USD 6000.

On a positive note, the smaller segments of 1100 TEU and 1700 TEU at least posted minor increases on a month on month basis. Compared to a year ago the rate levels for the two smallest categories are roughly at the same numbers, giving hope to maybe another upbeat spring development as witnessed last year.

For the larger ships however, the fluctuating numbers of idle vessels before and after the Chinese New Year barely had any effect on charter rates as the supply surplus looms so large that a few more or less readily available vessels do not make a difference at the moment.

(19.2.2016) Another week has passed and the New ConTex reached 337, rising by one point compared to 11th Feb. Minor rate changes in the different size segments are reflecting the stagnating container market at the moment. It remains to be seen whether the end of the Chinese New Year might raise fixing activities. Presently the container lines perform numerous blank sailings, thereby increasing idle capacity.

W-o-W all evaluated segments keep their steady trend with TC hire changes limited to double-digits. The 1100 TEU segment dropped slightly by USD 10 (-0,1%) to USD 6.808 which appears to be rather a statistical change. The evaluation basis 12 months in the other segments below 3500 TEU are showing slightly positive (1700 and 2700 TEU segment) resp. negative (2500 TEU) developments.

The 3500 TEU segment faced the biggest decline W-o-W with USD 42 (-0,7%) down to USD 5.920 basis 12 months. According to Alphaliner idle numbers in this segment are rising and fixtures with very flexible periods and rates below USD 6.000 are common once again.

 At the same time the 4.250 TEU segment increased by USD 25 (+0,4%) basis 12 months to USD 5.958, retaining it's minor upward development since beginning of this year.

(12-2-2016) Whilst the container charter market experienced a brief rallye during the previous week, we have experienced during the week the expected lull, which dominated the market situation this week due to the Lunar New Year festivities.

The New ConTex is continuing its sideways trend and ends the week again at 336 points, which is no difference on a w-o-w-basis and 2 points more than one month ago. Similar to last week, there are some classes developing slightly positive, others again slightly negative.

In general it can be said that the bottoming out process is in full force and trend-setting developments will likely be seen in a couple of weeks time only.

(04.02.2016) The New ConTex is moving more or less sideways this week and closes at 336 points which is a slight increase of 1 point compared to last week's level. Mostly all container segment are showing a slight positive development this week. The smallest 1100 TEU segment increased by USD 52 basis 12 months period. One negative development has been noticed in the geared 1700 TEU segment. Based on 12 months period, this segment dropped by USD 25, equivalent to a negative 0.3 percent this week. Taking a look at the 24 months periods, the geared 2500 TEU segment reported a positive trend with an increase of USD 34 based on a week on week basis. Another increasing trend has been reported for the gearless 2700 TEU segment which closes at USD 7,637 basis 24 months and USD 6,293 basis 12 months period. After several weeks the 4250 TEU segment reported a slight positive development as well. This segment increased by USD 22 basis 12 months period and USD 55 basis 24 months, respectively + 0.7 percent. Even though New Lunar Year is around the corner, we noticed that this week's chartering activity remains unchanged compared to previous weeks. We are wishing all our friends and business partners a Happy New Lunar Year of the Monkey.

The New ConTex have lately been fairly steady, or even increasing although by only one point for the second week in a row assessing at 335. Looking at the figures the sentiment looks a bit more positive, especially in the smaller feeder segment. The 1100 TEU has increased by USD 49 and with some requirements still uncovered after CNY there is definitely room for an increase in rates both in Asia and in the Med/Caribs area.

The 1700 TEU reported a slighty decrease in rates by USD 6 points (12 months), in the Atlantic area market is fairly balanced however in Asia some ships are still seeking for employment but rates seems to have somehow stabilized.

A slight increase of USD 28 (+ 0,5%, 12 months) was observed for 2500 TEU that are achieving nowadays similar levels in both Atlantic and Pacific. An increase was also reported for Panamaxes basis on 2 years (+ USF 20 or 0,3%), however on the spot/short period these size is still under quite some pressure with lots of ships available in the market and some Owners evaluating about laying up some vessels.

For the first time since early summer 2015 we witnessed 'growth' in the New Contex, which closed one point up at 334. Maybe finally the first sign of a market reaching its overall bottom. The market however remains heavily over supplied in all segment but at least the individual segments appeared steady but low with most changes within the 1 pct bracket compared to last week.

In the small 1100 TEU segment a 1.4% growth was registered compared to last week and is actually also slightly higher on a monthly or even a yearly basis. In reality one could state this should have happened earlier as certain areas indeed were lacking 1100 TEU tonnage but pressure from alternative tonnage have kept levels lows. The 1700 TEU remain steady but with improvements being difficult in the coming weeks as the new eco types have lowered their expectations or rather been forced to as the consumption advantage been taken away with bunker prices continuing downwards. Although a slight decrease was seen in the 2500 TEU segment and 2700 TEU the trend must be considered stable.

The rates are at the bottom and most negotiations are focused on avoiding a too long period. The 3500 TEU segment seems completely overlooked with little new demand whereas 4250 TEU tonnage could perform slightly better this week. Activity is likely to be reasonable during the coming week but February will be influenced by the CNY holidays where chartering activity may be reduced.

With only 2 points down to 333 (and 6 points since the beginning of this year) the New ConTex moved, as predicted,  quite steadily with rates seemed more or less bottomed out.
Although rates sofar still haven’t  come up in the 1100 TEU segment the change compared to last week of just minus 0.2% e.g. USD 6,594  and the probably less idle tonnage available is considered a good sign.
The 1700 TEU still keeping a slight downward trend with minus 0.9% to USD 7,367  for 12 months whereas the intermediate classes of 2500 TEU and 2700 TEU loosing further ground of minus 1.6% to 6,042 USD respectively minus 1.4%  to 6,250 USD both for 12 months which being dictated by the number of idle vessels available in this segment.
The 3500 TEU (UP 0.3% to 5,990 USD for 12 months) and 4250 teu (down 0.5% to 5,818 USD for 12 months) only moving down very slowly respectively sideways showing a certain market resistance.

(8.1.2016) The New ConTex closed this week only 4 points down, at 335. Seems the bottom is more or less reached and Charterers already trying to cover forward deliveries at today’s level. Especially for the smaller sizes the trend is positive, although rates not increased during the Christmas holidays but we noted less idle tonnage which certainly is the first step to improve the present USD 6,605 for 1100 TEU (minus 0.6%) The 1700 TEU size seems still under pressure with minus 2.0%. It remains to be seen what will happen to the intermediate classes of 2500 TEU and 2700 TEU, presently they are moving sideways respectively slightly down. However, the bigger sizes 3500 TEU (down 0.5%) and 4250 TEU (down 0.6%) reached a level of upto nearly 34% (!) below the Index a year ago and consequently no bigger decrease of rates is expected anymore.

(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.

(11.12.2015) Again the New ConTex dropped further during last week, now down to 343 points. Having said that it seems the pace of the weekly decreases is slowing down being confirmed by recent singledigit reductions compared to mainly doubledigit numbers before. Thus one may conclude that the bottom could be reached shortly. Similar to previous weeks the smaller size of 1100 TEU is showing only small changes ( - 1,2 % w.o.w.), whilst the 1700 TEU is now joining the larger segments of the New ConTex with reductions seen between 1,4 % and 1,8 %. However both the 1100 and the 1700 TEU sizes remain in black on a year on year basis, whilst all the other sizes are considerably down in that period.

The biggest loss was shown during last week for  the 3500 TEU basis 24 mos with USD 249 down (-3,1 %) ending up at an evaluation of USD 7885, which is now for the first time since mid October evaluated lower again than the 4250 TEU (USD 7901 basis 24 mos).

The number of idle ships are still increasing and with the Christmas holiday season approaching the market will likely slow further down during the next weeks and same may likely last until Chinese New Year.