HANSA 01-2019

Orders & Sales
New Orders Container
Newbuilding orders only
applied to smaller types between
1,800 and 2,700 TEU.
Maersk is in negotiations
regarding a contract for
5+5 ships of 2,200 TEU.
They will cost 25 mill. $
each. Malaysian operator
MTT placed an order
for two 1,800 TEU ships
at Zhoushan Changhong,
while Sea Consortium ordered
six 2,700 TEUs.
veries expected to slow from 1.4 mill. t to
1.0 mill.t, fleet capacity growth may moderate
to just around 3.0% versus 4.0+ %
global trade growth. This would suggest
that charter market rates could climb to
much higher levels than in 2018 as liner
operators will be forced to take on even
more charter capacity to cope with increased
business volumes.
Some believe that the recent strengthening
in short term period rates for
8,500 TEU ships to around 17,000 $/day
may be an early indicator for an upswing
this year. Brokers already recorded plenty
of forward enquiry for ships delivering
in spring. CMA CGM even fixed two
Hanjin 6900 type ships for 60-month periods
at rates close to 26,000 $/day with
laycan dates in April. Currently, tonnage
in the bigger market sectors is already
pretty scarce, with only one vessel
in spot position in the 5,300-7,499 and
the 7,500-11,000 TEU segments each at
the start of December. If there is a burst
of activity in February just after Chinese
New Year, tonnage availability could
quickly dry up, sending rates soaring.
There is no doubt that it will be the
most efficient vessels reaping the greatest
gains. Recent debates at the HANSA Forum
showed that charter market players
generally expect the spread in rates between
old and modern tonnage to widen,
as speed/consumption profiles gain maximum
attention again. With the transition
to more costly low-sulphur fuels
starting this year, charterers will clearly
favour the most-efficient vessels.
Dry bulk missing China boost
In the dry cargo sector, there is a heightened
degree of uncertainty as the new
year dawns. The fourth quarter turned
out to be a disaster, with average rates for
capesize vessels falling plunging below
8,000 $/day before recovering to around
17,000 $/day by mid-December. Panamaxes
and smaller geared bulkers recorded
a softening, too, though relatively
Secondhand Sales Container
The market was less active,
the 6,661 TEU carrier
»NYK Themis« was acquired
by Eastern Pacific. The remaining
transactions took
place in the feeder segment.
The 2016 South Korean-built
bangkokmax »Heung-A
Laem Chabang« was sold to
Kotoko for 20 mill. $. In addition,
the 2000 South Korean-built
»AS Savonia« was acquired
by Vega Reederei for a
new low benchmark price of
3,35 mill. $, while »Catharina
Schulte« was sold to Tuftonic
for 13 mill. $ including.
Demolition Sales
Scrapping activity decreased,
latest sales demonstrate firm
price levels, but the current
sentiment indicates a slight
softening. The falling iron
ore prices could be an indication
of this. Growing fears
over an economic slowdown
in China and the impact of a
trade war lead to the pressure
on prices.
Jan Göldner
COMPASS
ConTainer ship t / c market
Märkte | Markets
modest by comparison. Average time
400
charter levels for ships from 28,000 dwt
to 82,000 dwt are clustered between
9,000 and 13,000 $/day as this issue of
HANSA goes to press. It appears that a
Month on Month
Container freight market
413 - 5.7 %
simultaneous slowdown in demand for
WCI Shanghai-Rotterdam 1,604 $/FEU - 0.6 %
all the main commodities (iron ore, coal,
WCI Shanghai-Los Angeles 2,077 $/FEU - 23.9 %
grain) in China caused the markets to go
Average rates spot / up to 4 weeks validity
into decline. There is no one explanation,
WCI = World Container Index, supplier: Drewry
though. Iron ore and coal imports are
feeling the impact of winter curtailment
Dry cargo / Bulk
and anti-pollution measures in China
Baltic Dry Index 1401 + 36.0 %
while grain importation was restrained
Spot time charter averages ($/day)
by the trade war with the US. The recent
standstill agreement on tariffs between
Capesize 5TC average 17,704 + 101.0 %
Washington and Beijing brought
back a bit of optimism, though, especially
for panamaxes, supramaxes and
Panamax 4TC average
Supramax 6TC average
Handysize 6TC average
11,828
11,273
8,929
+ 1.8 %
+ 2.4 %
- 4.5 %
handies. Reports say that China has resumed
buying soya beans in the US, with
Forward / ffa front month Jan’19 ($/day)
up to 8 mill. t potentially coming up for
Capesize 180k 15,958 + 24.3 %
shipment in the near to medium term. It
would mean significant new business for
smaller bulkers. Already, rates for trips
ex US Gulf to China and for transpacific
Panamax
MPP
11,850 + 13.5 %
TMI
trips have begun to firm up.
Toepfer’s Multipurpose Index
Dezember ’18
Overall, market sentiment in dry bulk
$ 7,518
shipping is still shaken, though. Looking
at price levels for freight futures reveals
that market participants currently anticipate
a sideways trend in spot earnings
next year. Average time charter rates for
Dezember ’17
$ 6,700
2019 were quoted at around 15,800 $/day
versus a 2018 average of 16,500 $ in the
The index is based on a 12,500 tdw MPP/HL »F-Type« vessel
capesize sector, 11,800 versus 11,650 $
for a 6-12 months TC and represents the monthly assessment
for panamaxes, 11,700 versus 11,500 $
from operators, owners and brokers.
for supramaxes and 9,100 versus 8,700 $
for 28,000 dwt handysize bulkers.
The European shortsea dry cargo trades
had a more successful fourth quarter,
with freight rates and vessel earnings
climbing well above levels back in Q3.
Tankers
Baltic Dirty Tanker Index
Baltic Clean Tanker Index
shortsea / Coaster
1223 + 10.6 %
909 + 40.7 %
The seasonal hike was not as pronounced
Norbroker 3,500 dwt earnings est. 2,850 €/d - 5.0 %
as in 2017, though. The HC shortsea index
averaged 18.22 in November/De-
HC Shortsea Index 18.22 + 7.6 %
cember versus 19.12 one year back. Shipbroker
ISTFIX Shortsea Index 706 - 1.3 %
Norbroker assessed average spot
Norbroker: spot t/c equivalent assessment basis round
voyage North Sea/Baltic; HC Shipping & Chartering index
earnings for 3,500 dwt ships at 2,850 €/d
tracking spot freights on 5 intra-European routes; Istfix
in mid-December, against 3,450 €at the
Istanbul Freight Index covering spot freight ex Black Sea
end of 2017. n Data per 17.12.2018, Alterations within four weeks
550
525
500
475
450
425
19.06.18
13.12.18
HANSA International Maritime Journal – 156. Jahrgang – 2019 – Nr. 1 11