HANSA 10-2017

Märkte | Markets
Rate rises sustainable so far
The global container ship charter market is in robust shape as early autumn fixing resumes,
writes Michael Hollmann
Fixing activity and tonnage tightness
continued to beat expectations over
the past month, with charter rate levels
still nudging upward during September.
The upward momentum decreased a bit,
yet average rates for the main charter vessel
sectors from 1,100 TEU to 4,250 TEU
are up 2.6% month-on-month, according
to the New ConTex which climbed
from 388 to 398 points over the past four
weeks. Demand for large and very large
gearless ships in excess of 5,500 TEU continues
to be a major driver for the latest
strength in the market. However, the New
ConTex also reflects significant improvements
for panamax and midsize vessels,
with 12 month periods for geared
1,700 TEU types lifted by 4.2% to over
7,900 $/day and 12 month periods for
4,250 TEU baby panamax types pushing
up 11% to almost 9,000 $/day.
Global container traffc remains on
track for much-improved growth this
year as economic activity based on purchasing
manager indices (PMI) gained
further strength across most major economies.
PMI’s for the US and for Europe
remain at multi-year highs and still improving
while the situation in China,
India and Brazil brightened up again,
too, after a weaker patch in May, June
and July. The result has been a formidable
rise in the JP Morgan Global PMI
to 53.9 points in August, indicating the
strongest growth push in the world economy
since early 2015. All this is good
news for container shipping, of course,
which is set for a 5.0% increase in cargo
liftings on fronthaul routes this year,
according to London shipbroker Howe
Robinson. Fittingly, the idle container
ship fleet witnessed another contraction
to just 143 units with an aggregate
capacity of 355,250 TEU in early September
based on data by Alphaliner. This represents
just 1.7% of the total cellular fleet
worldwide. Concerns over a seasonal decline
in charter demand proved unfounded
so far, although there is no doubt that
it is going to happen to some degree during
the fourth quarter, as every year.
In the largest sectors, Seaspan is reported
to have already fixed a quartet of
10,000 TEU newbuilding due for delivery
from February 2018 for long periods. Market
sources say that the ships are hired out
to CMA CGM ex yard for 36 month periods
at rates around 28,000 $/day. This
compares favourably with other recent fixtures
of even larger vessels, fixed at lower
rates, albeit for shorter periods that would
allow owners to re-employ them at higher
rates if the market picks up in the meantime.
Some 2011-built 10,000 TEU tonnage
got covered at 21,000-22,000 $/day while
the Costamare-managed »Cape Kortia«
(11,010 TEU, 2017) secured a 12 month
employment for transpacific trading with
Evergreen at 27,000 $/day. Latest megaship
TEU Name dwt Built Type Speed Cons. Charterer Laycan Period Rate ($)
FEEDER / HANDY
698 Max Prince 8200 2008 g´less 17.3 27.0 Hyundai MM Sep 2-4 months Intra-Asia 4550
925 Contship Joy 12612 2007 g´less 18.5 39.5 Seaconsortium Sep 5-12 months Spanish trade (ext) 5950
1118 Vega Azurit 13760 2008 geared 19.6 42.0 Eimskip Sep 4-9 months North Europe 7500
1296 Varamo 18700 2007 geared 19.6 45.0+3 Streamlines /Seatrade Sep 12 months Europe/Caribbean 8500
1300 AS Floriana 18550 2008 g´less 19.0 45.0+3 Maersk Sep 5-8 months Intra-Med 7150
1730 Nordpuma 23800 2015 g´less 18.5 45.0 Hyundai MM Oct 4-7 months Korea / Thailand (ext) 9350
1740 Wellington Strait 23600 2012 geared 18.1 51.4+3.5 CMA CGM Sep 8-12 months Australia / New Zealand 8150
1740 Cape Nabil 23600 2010 g´less 20.6 65.0 NYK Line Oct 5-6 months Intra-Asia (ext) net 7700
1794 FS Ipanema 25860 2009 geared 20.5 58.1 King Ocean Sep 5-7 months Florida / Caribs (ext) 7950
1970 Frisia Bonn 28632 2010 g´less 16.0 39.0 Admiral CL Sep 9-12 months Israel/ Turkey trade 8100
SUB-PANAMAX
2478 Rossini 33900 2005 geared 22.5 84.2+4 Maersk Sep 3-6 months Med / West Africa (ext) 8250
2566 Hannah Schulte 34700 2006 geared 22.1 89.5+6 CMA CGM Sep 11-13 months Med / WCSA (ext) 9500
2714 Ariana 38700 2006 geared 21.6 85.5+5 RCL Oct 6 months Intra-Asia 9350
2750 Northern Vivacity 37800 2005 g´less 20.0 61.0 Evergreen Oct 5-7 months Intra-Asia net 9500
2824 Maersk Jaipur 39418 2008 g´less 24.0 95.0 Maersk Oct 3-6 months FE / New Zealand (ext) 9450
TRADITIONAL PANAMAX AND WIDEBEAM
4250 Navios Amarillo 50700 2007 g´less 24.5 133.0 CMA CGM Sep 3-6 months Far East / US Gulf 9325
4252 Zim Xiamen 50886 2006 g´less 24.5 133.0 Simatech Oct 5-7 months Far East / India 9250
4253 Beatrice Schulte 50702 2009 g´less 23.3 Heung-A Oct 5-8 months (ext) 9000
4606 Northern Priority 59186 2009 g´less 21.0 93.0+9 COSCON Sep 4-6 months Far East / India 9250
5466 Clemens Schulte 65357 2014 g´less 16.0 38.0 KMTC Oct 5-7 months Far East / India (ext) 14500
5470 Balbina 65710 2010 g´less 24.1 Emirates SL Sep 1 round voyage FE / Middle East (ext) 11200
LARGE AND VERY LARGE
6927 Alexandra 80274 2013 g´less 21.0 93.0 Mitsui OSK Sep 50-70 days N. Europe / S. Africa 18500
8344 Seamax Bridgeport 99508 2004 g´less 25.0 248.0 MSC Sep 5-6 months transpacific 17700
8814 Northern Javelin 198677 2009 g´less 25.4 249.0 Hapag-Lloyd Oct 5-7 months Far East / Europe (ext) 17950
9954 Athenian 118835 2011 g´less 22.0 166.0 Hapag-Lloyd Sep 40-50 days transpacific (ext) 22000
9954 Athos 118835 2011 g›less 22.0 166.0 MSC Sep 2-3 months Far East / West Africa 21000
11010 Cape Kortia 134869 2017 g›less 22.0 Evergreen Oct 12 months transpacific trade 27000
Charter deals / all information without guarantee
12 HANSA International Maritime Journal – 154. Jahrgang – 2017 – Nr. 10