HANSA 05-2019

Märkte | Markets
Orders & Sales
New Orders Container
Newbuilding ordering activity
continued to be calm over
the last four weeks. KMTC
ordered three 2,500 TEU
vessels at HMD for a price of
35 mill. $ each. In South Korea,
Namsung Shipping as
well as Pan Continental Shipping
ordered one 1,000 TEU
vessel each at Dae Sun. Both
ships will be fitted with
scrubbers and are scheduled
for delivery in 2020.
In the bigger segment, CMA
CGM ordered 10 ships of
15,000 TEU, five fueled by
ina« which joins Hyundai Merchant Marine
(HMM) for 3–6 months in the Far
East. Previous fixtures had still been concluded
at levels below 8,000 $/day.
Similarly, rates for baby panamaxes of
4,250 TEU gained more traction, with
one vessel obtained over 9,000 $/day – up
from mid 8,000’s $/day – for an employment
starting in the Persian Gulf.
Below 3,000 TEU, the picture remains
fragmented. The improvements
are largely limited to gearless 2,700 TEU,
1,700/1,800 TEU and smaller feeder vessels
in Europe and the Mediterranean.
2,700 TEU surpassing 9,000 $/day
The 2,700/2,800 TEU type enjoyed a
rally in demand, resulting in extremely
tight availability levels – no more than
two or three vessels two weeks forward
worldwide. Consequently rates firmed
up by a few hundred dollars over the
past weeks. The top mark in Asia was
set by the Thyssen 2700 type »Munk
Strait« (2,702 TEU, built in 2004), fixing
a 5–7 month employment with Yang
Ming in the Far East at 9,000 $/day net
of address commission. This translates
into a gross rate of around 9,300 $/day
– up from mid/upper 8,000’s $/day one
month ago.
The spot supply of 1,700 TEU vessels
was also decimated significantly due to
strong demand in Asia and in the Mediterranean.
Hire rates saw further gains
although not at the pace owners would
have wished. Standard geared Wenchong
1700 types saw a gradual rise from mid
7,000’s to just under 8,000 $/day in Asia
LNG and five with scrubbers,
from Chinese staterun
CSSC Shipping Leasing.
Secondhand Sales Container
Bustle at the secondhand market
for further trading container
vessels remained on a
similar level as in the previous
reporting period. In total
we recorded six transactions
including two en bloc
deals. Prices for container
vessels could not rise significantly,
even though charter
rates increased and the idle
fleet decreased. The limited
number of active buyers combined
with a large amount of
sales candidates in the market
could be a reason for that.
Demolition Sales
The world price for iron ore
firmed during the second
part of March and the first
part of April. This was reflected
in the recycling activity,
which was fairly high. In total
12 vessels were sold for scrap.
Again, quite active were Bangladeshi
yards with five vessels
sold for demolition. The
highest price achieved the
4,038 TEU ship »OEL Transworld«,
which was sold for
$ 480/ldt to Indian breakers.
Jan Göldner
while some other slightly larger types or
gearless vessels already surpassed the
8,000 $ barrier.
The Hyundai 1800 type »San Alvaro«
achieved 8,100 $/day in 2–6 month period
with Maersk in the Mediterranean
while the sister vessel »San Amerigo«
obtained 8,500 $/day for twelve months
reefer-heavy trading on behalf of Dole in
the Caribbean.
Asian market fails expectations
As far as smaller feeders of 1,200 TEU
and less are concerned, the Asian market
continues to fail the expectations with
standard CV1100s still rated at around
6,000 $/day versus low 6,000’s and low
7,000’s $/day in the Mediterranean and
the Caribbean. A number of ships have
been positioned from east of Suez to the
Mediterranean over the past two to three
months due to more attractive employment
options there.
Rates for gearless feeder vessels in
northern Europe remained stable or
even improved by a few hundred dollars
for some classes. It comes as a positive
surprise for shipowners amid all the uncertainty
and concerns over a displacement
of smaller vessels by Maersk’s new
3,000+ TEU feeder ships.
The steady-to-firmer trend was borne
out by fixtures including the open-top
1,421 TEU »Vera Rambow« at 9,500 €/day
and the 1,926 TEU »Delphis Finland« at
14,500 $/day both to Unifeeder. The Hanjin
1200 type »Lantau Arrow« switched
from COSCO to OOCL for 5–7 month
period at 8,500 $/day.
n
COMPASS
Container ship t / c market
550
500
450
400
350
Month on Month398 • + 2.3 %
Container freight market
WCI Shanghai-Rotterdam 1,360 $/FEU - 0.4 %
WCI Shanghai-Los Angeles 1,504 $/FEU + 10.1 %
Dry cargo / Bulk
Baltic Dry Index 749 + 5.2 %
Spot time charter averages ($/day)
Capesize 5TC average 5,991 + 5.4 %
Panamax 4TC average 8,948 + 20.6 %
Supramax 6TC average 7,751 - 8.1 %
Handysize 6TC average 5,951 - 9.0 %
Forward / ffa front month May´19 ($/day)
Capesize 180k 7,854 + 24.7 %
Panamax 74k 9,500 + 8.5 %
MPP
April ’18
$ 7,158
18.10.18
TMI
Toepfer’s Multipurpose Index
April ’19
$ 7,610
12,500 tdw MPP/HL »F-Type« vessel for a 6-12 months TC
Tankers
Baltic Dirty Tanker Index 639 - 12.5 %
Baltic Clean Tanker Index 577 - 5.9 %
Shortsea / Coaster
Norbroker 3,500 dwt earnings est. 2,600 €/d +/- 0.0 %
HC Shortsea Index 17.27 - 1.3 %
ISTFIX Shortsea Index 530 - 6.2 %
Norbroker: spot t/c equivalent assessment basis round
voyage North Sea/Baltic; HC Shipping & Chartering index
tracking spot freights on 5 intra-European routes; Istfix
Istanbul Freight Index covering spot freight ex Black Sea
Bunkers
18.04.19
IFO 380 Rotterdam $/t 412 +/- 0.0 %
MGO Rotterdam $/t 591 + 2.0 %
Forward / Swap price Q3 / 19
IFO 380 Rotterdam $/t 387 + 3.7 %
Data per 16.04.2019, Alterations within four weeks
HANSA International Maritime Journal 05 | 2019
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