Market Report
13th February, 2004
Container update 13th February, 2004
This last fortnight has witnessed a most dramatic change of period and rates within the mid
range sized vessels. It has long been recognized that charterers were taking any and all available
tonnage of about 2000teu+ out of the market as soon as possible, and far in advance, with
Owners holding out for long term at high levels. This now appears to have effected the mid
sizes too, with the market jumping in a spectacular fashion.
A quieter period has befallen the 2000teu+ sector, however this is in the main down to the lack
of tonnage rather than any weakening of demand. Last week saw the Magnavia fixture to RCL
at an outstanding $22,950, and this week we hear of the Westerburg & Champion both getting
$23,250 for 36 months. Rates and periods will continue to remain strong for the foreseeable
future.
The mid range 1400-1900teu though has seen sharp rises in rates achieved and in Owners
optimism over the last week. The catalyst seems to have been the Merkur Tide which took a
fantastic $16,750 for 36 months with Yang Ming, only a fortnight before similar sized vessels
were taking $17,000 for 12 months!! Further we understand that a B170 type, the
Wehr Ottensen has achieved $18,250 for 24 months. The long talked of ‘knock on effect’
appears to have most definitely arrived, Owners are raising their levels in an extremely fluid
market, and Charterers are having to take vessels for longer periods at higher levels.
Expectations must surely be that this market is now seeing the unprecedented demand seen in
the larger sizes filtering down, and historical highs will be achieved.
2/5
Fixtures
Gearless
Hansa India ‘94
43,369dwt 3424teu (2411 at 14t) 300 reefer 22.5kn on 99 for 36
mos wwide trade
Nordstrand ‘93
34,062dwt 2280teu (1845 at 14t) 300 reefers 20.8kn on 70 for
further 3 mos Med/Feast trade
Magnavia ‘96
30,300dwt 2078teu (1705 at 14t) 400 reefers 21.5kn on 73 for
further 36 mos SE Asian/Aussie trade
Nefeli ‘81
31,049dwt 1850teu (1502 at 14t) 100 reefers 20.5kn on 87 for 24
mos wwide trade
Lancashire ‘98
14,310dwt 1658teu (823 at 14t) 300 reefer 23kn for 6-12 mos
interasian trade
Buckinghamshire ‘99
14,310dwt 1658teu (823 at 14t) 300 reefer 23kn for 2 mos Med
trade
Montania ‘96
22,148dwt 1504teu (1180 at 14t) 200 reefers 21kn on 61.3 for 24
mos wwide trade
NYK
usd 29,000
Norasia
usd 25,000
extn RCL
usd 22,950
K Line
usd 17,500
Hanjin
usd 10,500 12mos or usd
11,050 6 mos
Sarlis
usd 10,000
Yang Ming
usd 17,000
Geared
HSH Kusu & HSH Ubin ‘89
28,160dwt 2097teu (1674 at 14t) 100 reefers 17.5kn on 45.8 for
further 18 mos feast trade
Champion ‘98
30,450dwt 2080teu (1700 at 14t) 300 reefers 21kn on 72 for
further 36 mos SE Asia/Aussie trading
Westerburg ‘97
30,300dwt 2072teu (1650 at 14t) 300 reefers 21kn on 70 for
further 36 mos Feast/WCSA trading
3/5
extn EMC
usd 17,000
extn Lloyd T
usd 23,250
extn K Line
usd 23,250
Meliton ‘81
33,185dwt 1952teu (1945 at 14t) 218 reefers 18.5kn on 62.2 for
further 24 mos Feast/I Ocean trading
Neptun, Taurus + Sister ‘98
29,240dwt 1835teu (1392 at 14t) 325 reefers 21kn on 68 for
further mos Atlantic trade
Conti Hong Kong ‘89
26,288dwt 1743teu (1315 at 14t) 70 reefers 18.5kn on 49 for
further 36 mos Feast trade
Durande ‘03
23,508dwt 1740teu (1330 at 14t) 296 reefers 21kn on 64 for
further 24 mos Asia/S-W Africa trade
Wehr Ottensen ‘97
23,040dwt 1730teu (1120 at 14t) 200 reefers 20 on 54.5 for 24
mos wwide trade
Atlantic Trader ‘96
22,525dwt 1608teu (1124 at 14t) 200 reefers 21kn on 60.5 for 12
mos trans Atlantic trade
Merkur Tide ‘98
22,026dwt 1584teu (1081 at 14t) 238 reefers 21kn on 60 for 36
mos wwide trade
Cap Vilano ‘94
22,300dwt 1572teu (1100 at 14t) 200 reefers 19.5kn on 53 for
further 12 mos I Ocean/African trade
Westerdeich ‘77
27,900dwt 1538teu (1325 at 14t) 135 reefers 20kn on 80 for
further 24 mos Spore/Indon trade
Marwan ‘94
20,250dwt 1388teu (1010 at 14t) 135 reefers 18.6kn on 42 for 18
mos wwide trade
Margret Oldendorff ‘92
24,190dwt 1344teu (1050 at 14t) 100 reefers 18kn on 43.5 for 1
Feast/Aussie round
Astor ‘95
18,400dwt 1129teu (848 at 14t) 152 reefer 18.5kn on 40 for
further mos SE Asia/Africa trade
Vega Diamond ‘03
13,760dwt 1118teu (712 at 14t) 220 reefer 19.6kn on 39.3 for 12
mos intra asian trade
4/5
extn PIL
usd 18,000
extn Hmbg Sud
private rate
extn Yang Ming
usd 16,250
Delmas
usd 17,500
Hanjin/Senator
usd 18,250
Costa
usd 16,250
Yang Ming
usd 16,750
optn GSL
usd 16,000
APL
private rate
private rate
TOL
usd 14,500
extn PONL
private rate
TSL
usd 11,250
Sebastian Caboto ‘91
14,764dwt 1068teu (810 at 14t) 160 reefers 18kn on 41 for further
6 mos Mid East/E Africa trade
Cape Ann ‘93
15,562dwt 1066teu (755 at 14t) 100 reefer 17.5kn on 37 for
further 12 mos PG trade
Perseus ‘90
15,165dwt 1048teu (752 at 14t) 100 reefers 18.5kn on 36 for
further 6 mos Feast trade (relet)
Cape Horn ‘92
12,850dwt 923teu (620 at 14t) 200 reefers 18.5kn on 35 for
further 12 mos NCSA/ECSA/Caribs trade
Wilma ‘85
12,710dwt 856teu (629 at 14t) 50 reefers 17.5kn on 35 for 6-9
mos intermed trade
optn GSL
usd 9750
extn UASC
private rate
optn CSCL
usd 9300
extn MOL
usd 10,500
Sarlis
usd 9600
This report reflects information given in good faith to the best of our knowledge, but without guarantee.
5/5