December 12 – December 19, 2014
Container Market – Weekly Report
Chartering Market
Fixtures Reported This Week
We saw additional tonnage in the post panamax segment securing
employment, continuing where we left off last week, with half a dozen or
so ships reported to be fixed for short to medium periods at last done
levels. Full details should emerge over the next week or two. We still see
an appetite for further tonnage in Q1 2015.
Tianjin Bridge - Flag LIB - BLT 2004 - 66,983 DWT
5,043 TEU - 3,290/HOM - 550 Plugs - Hyundai 5000 - Cellular - Gearless 24.0/185.8
9-11 Mnths - Period - Far East - K Line - USD 10,500.00 /Day
Activity for panamax and panamax-max tonnage also maintained a good
level. There was a spate of fixing and failing early in the week however by
Friday most of the requirements had been covered and likewise, most of
the competing tonnage eventually found a home over the festive period.
The 5, 000 TEU ‘TIANJIN BRIDGE’ secured 12 months employment in Asia
with K Line at a rate rumoured to be in the low/mid USD 10,000 region for
a delivery second half of January. Baby panamaxes were fixing somewhere
between USD 8,500-USD 10,000 depending one the specifications of the
ship. The 4, 038 TEU ‘MARE LYCIUM’ for example, fixed at USD 8,500 for
2 to 6 months with COSCO, whereas a couple of 4,250 TEU were reported
fixed at USD 10,000 for short periods.
The segment between 2,000 – 3,000 TEU remained quiet and the number
of ships running into prompt positions continued to build up, particularly
the larger tonnage. In Asia, Geared 2,500 TEU types were still fixing at
USD 7,000 for short periods, excluding the modern economical designs
which were fetching around USD 9,000. In the Caribbean, Crowley took
the ‘WEHR OSTE’ for 6 months at USD 7,800 per day which is in line with
what was fixed last month.
Between 1,000 -2,000 TEU activities remained decent, although it was only
Asia that was active with the rest of the world seemingly closed for
Christmas. Sea Consortium fixed a B170 for 3 to 5 months at USD 7,350,
which has been the market level for some time. The 1,700 TEU eco
newbuilding ‘NORDLUCHS’ was fixed by SITC for 6 to 9 months at USD
12,000 which is the same as the sister vessel fixed last month. A number
of 1,000-1,100 TEU types fixed or extended in Asia for short periods at last
done levels.
Below 1,000 TEU we registered an increase in activity week on week.
Maersk Line took a couple of 900 TEUs in the Mediterranean for short and
flexible periods at USD 6,000. In the Caribbean, Seaboard fixed the
‘AMSTEL TRADER’ for 12 months at USD 6,900 which is around USD 150
up on what was last paid for a sister in the same region, also for 12
months. We expect activity to be reduced even further over the next few
weeks, although rates are managing to maintain themselves.
Maine Trader - Flag MTA - BLT 2004 - 67,679 DWT
4,990 TEU - 3,280/HOM - 554 Plugs - Hanjin 4900 - Cellular - Gearless 20kn/89mt
11-13 Mnths - Period - Continent - Hapag-Lloyd - Private Rate
Stadt Marburg - Flag ABB - BLT 2009 - 54,405 DWT
4,380 TEU - 2,850/HOM - 360 Plugs - Daewoo 4400 - Cellular - Gearless 24,3/133,1
4-8 Mnths - Period - China / W Africa - PIL - USD 9,900.00 /Day
Mare Lycium - Flag ABB - BLT 1999 - 52,272 DWT
4,038 TEU - 2,839/HOM - 430 Plugs - Hyundai 4000 - Cellular - Gearless 25.5/144.0
2-6 Mnths - Period - Far East - COSCO - USD 8,500.00 /Day
Cap Stewart - Flag LIB - BLT 2001 - 51,046 DWT
3,739 TEU - 2,720/HOM - 800 Plugs - Cellular - Geared - 23.00
3 Mnths - Period - Far East / W Africa - CMA CGM - USD 8,250.00 /Day
Sattha Bhum - Flag SNG - BLT 2009 - 38,948 DWT
2,732 TEU - 2,267/HOM - 450 Plugs - Gdynia 8184 - Cellular - Gearless 22.5/160
6-12 Mnths - Period - Intra Asia - Evergreen - USD 7,500.00 /Day
Bonny - Flag ABB - BLT 2001 - 35,976 DWT
2,681 TEU - 2,040/HOM - 400 Plugs - Gdynia 8200 - Cellular - Geared - 21.6/86
6 Mnths - Extension - Far East / Africa - CMA CGM - USD 7,000.00 /Day
Hammonia Holsatia - Flag LIB - BLT 2008 - 34,330 DWT
2,546 TEU - 1,900/HOM - 400 Plugs - Jiangsu 2500 - Cellular - Geared - 22
2-4 Mnths - Period - Far East / E Africa - PIL - USD 7,000.00 /Day
Wehr Oste - Flag MAI - BLT 2002 - 33,670 DWT
2,524 TEU - 1,895/HOM - 481 Plugs - CV 2500 - Cellular - Geared - 21.7/74.0
6 Mnths - Period - Intra Caribs - Crowley Liner - USD 7,800.00 /Day
Aruna Ipsa - Flag MAI - BLT 2004 - 24,279 DWT
1,858 TEU - 1,300/HOM - 300 Plugs - FVC 1850 - Cellular - Gearless - 23.0/80.5
1-3 Mnths - Extension - Intra Asia - Wan Hai Lines - USD 7,500.00 /Day
Thana Bhum - Flag SNG - BLT 2005 - 24,225 DWT
1,858 TEU - 1,300/HOM - 300 Plugs - FVC 1850 - Cellular - Gearless - 23/80
4-6 Mnths - Period - Intra Asia - Evergreen - USD 7,000.00 /Day
Camilla - Flag GIB - BLT 1996 - 23,045 DWT
1,728 TEU - 1,125/HOM - 200 Plugs - B170 - Cellular - Geared - 20.0/54.5
3-5 Mnths - Period - Intra Asia - Sea Consortium - USD 7,350.00 /Day
Continued on page 3
Maersk Broker Time Charter Rate Index, Week 51
Average Container T/C Rates
1,800
Maersk Broker Container Index
1,600
Size
2013
2014YTD
4 Weeks MA
1,400
1,200
400-649
$4,792
$4,694
$5,223
1,000
650-899
$5,252
$5,220
$5,286
800
900-1,299
$6,706
$6,915
$6,922
600
1,300-1,999
$7,342
$7,787
$7,865
400
2,000-2,999
$7,199
$7,311
$7,597
200
3,000-3,949
$7,794
$8,181
$8,695
0
3,950-5,199
$9,069
$9,136
$9,907
November: 471
December: 427*
(*4 weeks Moving Average –The index is calculated on December 19th)
Trend
(short
term)
December 12 – December 19, 2014
Sale & Purchase
Newbuilding
This week saw yet again a healthy level of activity, with a total of five vessels
being sold for further trading. Also, the demolition market had a busy week,
seeing a total of five vessels being sent to the beaches of India and Bangladesh.
German Owners Hammonia Reederei sold the 1997 built 2,959 TEU ‘HAMMONIA
AFRICUM’ to Orient Express Lines for an undisclosed price. This is the fourth
vessel which Hammonia Reederei has disposed of this year.
Further, Hermann Buss Gmbh & Cie Kg received USD 6 mill for the 1998 built
MTW 2500 type ‘BORKUM TRADER’. Earlier this month, the 1998 built 2,468
‘HELVETIA’ was sold for USD 6 mill. Hence, we can see a continued interest for
feedermax vessels being built in the late 1990’s.
Concluding the further trading market, the two 2007 built 925 TEU vessels
‘TAIPAN’ and ‘TONGAN’ were sold to Greek based Pacific & Atlantic. Amazsa
Hamburg GmbH received USD 4.3 mill for each of the Gijon types.
Moving on to the demolition market, the activity finally picked up after several
weeks with only a few deals being concluded.
First, MSC saw a rate of USD 461 per LDT when they sent their 1988 built 3,000
TEU ‘MSC JENNY’ for the Indian beaches, totalling in a transaction of USD 6.87
mill.
Once again no new orders were placed in the container newbuilding market this
week.
However, further details for the various projects for 18-20,000 TEU vessels to
be built at South Korean, Japanese and Chinese yards have been surfacing.
Evergreen are understood to be looking to order a series of these vessels for
delivery from 2017 onwards, while OOCL are expected to order six.
MOL are rumoured to have shortlisted Costamare and Shoei Kisen as their
counterparts for their own ULCC project. Shoei Kisen are expected to order 3-4
x 20,500 TEU vessels at compatriot yard Imabari, while Costamare are likely to
choose between Hyundai and Samsung for the same amount of vessels.
All vessels are expected to be priced between USD 150 and 160 mill.
Also, the Israel based Zim Integrated Shipping disposed off two of their Yun He
1,700 types, the 1999 built ‘NOVOROSSIYSK STAR’ and the 2000 built ‘ODESSA
STAR’. Zim integrated Shipping received USD 4.6 mill for each of the 9,500 LDT
vessels, i.e. a rate of USD 485.
Furthermore, the 1993 built 1,500 TEU ‘MARINOS’ were sent for the beaches of
Bangladesh, and Sellers Euroseas Ltd. saw a rate of USD 470, making the
transaction worth a total of USD 3.2 mill.
Lastly, the UK based Zodiac Maritime saw a satisfying rate of USD 536 per LDT
when they sold the 1991 built 950 TEU ‘EURUS LISBON’, resulting in a
transaction of USD 4.8 mill.
Estimated Second Hand Prices - 10 yrs old (USD Million)
Estimated Newbuilding Prices (USD Million)
1,100
1,700
2,700
4,500
1,800
2,800
4,800
6,600
9,200
14,000
6-7
9-10
12-13
14-15
28-30*
35-37*
51-53*
64-66*
88-90*
115-120*
26-28**
33-35**
49-51**
57-59**
84-86**
Price Development Since Last Week
Source: Maersk Broker
n.a.
Price Development Since Last Week
*
*
*
*
*
**
**
**
**
**
*
n.a.
Source: Maersk Broker
*based on Korean built vessel for 2016 delivery
**based on Chinese built vessel for 2016 delivery
Market Developments and Drivers
•
US: U.S. consumer sentiment rose in December to a near eight-year high on improved prospects for jobs and wages
and on lower gasoline prices. Meanwhile, the manufacturing output recorded its largest increase in nine months in
November as production expanded across the board, pointing to underlying strength in the economy.
•
EU: Eurozone Manufacturing Purchasing Managers' Index (PMI, an index to measure economic activity) increased to a
five-month high of 50.8 in December from the reading of 50.1 in November (a reading above 50 indicates an expansion
in economic activity). Both new orders and new export orders improved due to strong domestic demand.
•
China: The HSBC China Manufacturing PMI dropped to a seven-month low of 49.5 in the flash reading for December,
down from 50.0 in November. Domestic demand slowed considerably and fell below 50 for the first time since April
2014. The manufacturing slowdown continues in December and points to a weak ending for 2014. The rising
disinflationary pressures, which fundamentally reflect weak demand, warrant further monetary easing in the coming
months.
•
Japan: Growth in Japanese manufacturing activity picked up slightly in December and output grew at the fastest pace
since September. Furthermore, Japan's exports grew for a third straight month in November from a year earlier,
suggesting the economy is recovering from a recession in the third quarter.
December 12 – December 19, 2014
Nordluchs - Flag CYP - BLT 2014 - 23,800 DWT
1,700 TEU - 1,390/HOM - 350 Plugs - Cellular - Gearless - 18.5L
6-9 Mnths - Period - Intra Asia - SITC - USD 12,000.00 /Day
Batam Trader - Flag SNG - BLT 2002 - 16,794 DWT
1,078 TEU - 858/HOM - 150 Plugs - SembCorp 1078 - Cellular - Geared 19.5/51.5
3-7 Mnths - Extension - Intra Asia - APL - USD 7,200.00 /Day
Panja Bhum - Flag SNG - BLT 2008 - 13,931 DWT
1,022 TEU - 700/HOM - 277 Plugs - CV 1100 Plus - Cellular - Geared 20.0/41.0
6 Mnths - Extension - Intra Asia - Wan Hai Lines - USD 7,500.00 /Day
Mandalay Star - Flag LIB - BLT 1996 - 12,713 DWT
1,012 TEU - 636/HOM - 90 Plugs - B183 - Cellular - Geared - 18.0/35.0
6-12 Mnths - Extension - Intra Asia - CMA CGM - USD 5,700.00 /Day
Elan - Flag NTH - BLT 2005 - 13,740 DWT
1,008 TEU - 720/HOM - 150 Plugs - Sietas 168-L - Cellular - Gearless 18.5/33.0
2-4 Mnths - Extension - Continent / Med - OPDR - EUR 5,200.00 /Day
Vega Pollux - Flag ABB - BLT 2005 - 11,788 DWT
957 TEU - 604/HOM - 240 Plugs - Zhejiang 950 - Cellular - Geared - 18.8/37
10-30 Days - Period - Intra Med - Maersk Line - USD 6,000.00 /Day
Tolaga - Flag LIB - BLT 1997 - 7,225 DWT
700 TEU - 380/HOM - 100 Plugs - Sietas 160 - Cellular - Gearless - 16.5/23.0
10-15 Days - Period - Intra Med - Tarros - USD 4,100.00 /Day
Kalina - Flag CYP - BLT 1996 - 7,221 DWT
700 TEU - 380/HOM - 100 Plugs - Sietas 160 - Cellular - Gearless - 16.5/23.1
6 Mnths - Extension - Intra Med - Elorza - EUR 3,850.00 /Day
Amstel Trader - Flag NTH - BLT 2003 - 8,015 DWT
660 TEU - 400/HOM - 116 Plugs - Peters 650 - Cellular - Geared - 17.5/26.0
9-11 Mnths - Extension - Intra Caribs - Seaboard Marine - USD 6,900.00 /Day
The above report is based on our best knowledge of relevant market conditions and all fixtures reported are without
guarantee but stated in good faith.
This report is based on our knowledge of relevant market conditions. Our estimates are made on the basis of this knowledge, but other circumstances, or new circumstances, as well as general uncertainty could
cause the market to develop differently. We take general reservation for misprints. © All rights reserved. No part of this publication may be reproduced in any material form (including photocopying or storing it
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